Simple Energy Raises Undisclosed Amount, Plans To Raise Rs 51 Crore To Rs 74 Crore In The Second Quarter Of 2021

• The company said that it will be launching its flagship scooter, Mark2, in May 2021 starting with Bengaluru and Delhi
• It will come with a 4.8 kWh battery and will have a claimed range of 240 km in eco mode

The Bengaluru-based electric vehicle (EV) startup, Simple Energy, has raised an undisclosed amount from the angel investor Vel Kanniappan and four other investors who participated in this round of funding. As per a a company statement, the startup plans also to raise Rs 51 crore to Rs 74 crore ($8 million to $10 million) in series-A funding in the second quarter of this year.

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.”

4.8 kWh battery and will have a claimed range of 240 km in eco mode

The company said that it will be launching its flagship scooter, Mark2, in May 2021 starting with Bengaluru and Delhi. This will be 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. It will also have a speed of 100 kmph and acceleration of 0-50kph in 3.6 seconds, the company claimed.

It will come with other smart features like a touch screen onboard navigation, Bluetooth, etc. The company informed that its 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