Angel Investments
E-scooter maker Simple Energy raises $20-M
Bengaluru-based electric vehicle startup Simple Energy has raised USD 20 million (about INR 165 crore) from a clutch of investors as a part of its ongoing bridge round. The funds will be used in a phased manner to ramp up production of the company's maiden e-scooter Simple ONE. The Bridge round witnessed the participation of investors including Dr Arokiaswamy Velumani, founder of Thyrocare Technologies, Ashwin Hinduja of Gokaldas Group, Sanjay & Sandeep Wadhawa, owner of Nash Industries, Sripriya Kalyanasundaram, chief strategy and evangelist to CEO's office, Lambda Test, Purple Moon Ventures along with existing investors like Manish Bharti and Vasavi Green Tech. Led by Suhas Rajkumar, Founder & CEO, the company claims that it has received over one-lakh bookings for the e-scooters. The company recently inaugurated its new facility in Shoolagiri, Tamil Nadu, with an INR100 crore investment.
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