Simple Energy, an electric vehicle startup that specializes in manufacturing smart electric scooters, has raised an undisclosed amount of funding from the angel investor Vel Kanniappan and four other investors who participated in this round of funding.
According to a company statement, the startup plans also to raise INR 51crore to INR 74 crore (USD 8 million to USD-10 million) in pre-series funding in the second quarter of this year.
Founded in 2019 by Kiran Poojary, Sheetal Shetty, Shreshth Mishra and Suhas Rajkumar, Simply Energy consists of a young 20+ member team of EV enthusiasts, designers, engineers, and problem-solvers to make smart, supercharging, and affordable two-wheelers.
The company said it will be launching its flagship scooter, Mark2, in May 2021 starting with Bengaluru and Delhi, followed by Chennai, Mumbai, and Hyderabad. It will come with a 4.8 kWh battery and will have a claimed range of 240 km in eco mode, with a speed of 100 kmph and acceleration of 0-50kph in 3.6 seconds. Further, it comes with other smart features like a touch screen onboard navigation, Bluetooth, etc.
Commenting on the development, Suhas Rajkumar, founder of Simple Energy, said, “Closing the pre-series round has given the year a great start. We are glad to have investors like Vel, and the other four investors believe in the idea of Simple Energy. This pre-series has come in at the right time as we are launching our product Mark-2 by mid-2021. We look forward to a long-term association with them.”
Simple Energy’s prototype Mark 1 achieved an ARAI approved range of more than 230km with a 4-kWh hour battery pack that has been developed in-house by Simple Energy, the company said.
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