EV startup Simple Energy raises $21-M

Bengaluru-based electric vehicle startup Simple Energy has completed a USD 21 million (INR 155 crore) pre-series investment round, against its fundraise target of USD 15 million. The 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). Founded in 2019, Simple Energy launched its flagship electric scooter, the Simple One, on August 15, 2021. It claims to have received 30,000 pre-bookings for its flagship e-scooter.