Energy, among India’s top three EV startups, announced the completion of a $21
million pre-series investment round.
oversubscribed funding round was driven by the company's current investors and
board members, Manish Bharti of UiPath and Raghunath Subramanian, Non-Executive
Chairman, UiPath India, respectively. This round also witnessed participation
from new investors such as Sattva Group, Athiyas Group and several high
net-worth individuals (HNIs).
investment will be utilised to increase manufacturing capacity, accelerate new
product development, and expand experience centres, consequently bolstering the
company's expansion plans. The company had aimed to raise $15 million in
fundraising, but immense investor interest resulted in Simple Energy raising a
total of $21 million.
receiving an overwhelming response through this investment, Suhas Rajkumar,
Founder & CEO, Simple Energy said, “Electric vehicles are here to stay, and
Simple Energy is leading its way in revolutionising the automobile industry in
the country. The continuous support received from our existing and new
investors reflects their belief and confidence in the brand and the sector. The
pre-series round will not only help us broaden our product offerings but it
will also speed up the production process.”
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