Bengaluru-based EV start-up Simple Energy raises funds

Simple Energy, the Bengaluru-based EV start-up has raised an undisclosed amount from angel investors Vel Kanniappan and four others who participated in this round of funding.

Simple Energy is also planning to raise $8-10 million in series A funding in the second quarter of this year. The launch of the scooter will be in May starting with Bengaluru, and Delhi, followed by Chennai, Mumbai, and Hyderabad, a press statement from the company said.

Thespecification for the Mark 2 scooter is 240 km range in eco mode with a top speed of 100 kmph, a mid-drive motor along with a removable battery and futuristic design. It comes with features like a touch screen onboard navigation, Bluetooth, etc.

“Closing the pre-series round has given the year a great start. We’re glad to have investors like Kanniappan and others who believe in the idea of Simple Energy. We look forward to a long term association with them,” Suhas Rajkumar, Founder of Simple Energy said.

ARAI approved

Simple Energy’s prototype Mark-1 has achieved an ARAI approved range of more than 230 km with a 4-kilowatt hour battery pack that has been developed in-house. The Mark 2 will be offered with a 4.8 kWh battery and acceleration 0-50 kph in 3.6 seconds.

Founded by a 24-year-old and headquartered in Bengaluru, Simple Energy builds electric vehicles from square one. Right from its surface design to chassis design, and from the battery to motor development, the company puts together comprehensive in-house, made in India products with outstanding precision.