Simple Energy Scores $20M in Series A Funding to Boost Electric Two-Wheeler Production

Electric two-wheeler startup Simple Energy has secured $20 million in a Series A funding round. The funds will enhance production capacity, support market expansion, and facilitate product development. The company is set to expand dealership networks across multiple Indian cities.

Electric two-wheeler startup, Simple Energy, announced on Monday the successful raising of USD 20 million in a Series A funding round.

Participation in the funding round included both existing and new investors, the company said in a statement.

The newly acquired funds will be targeted at scaling up production capacity, entering new markets, and driving new product development.

Simple Energy Founder and CEO Suhas Rajkumar expressed gratitude for the support from their initial customer base in Bengaluru and the investors' faith in the brand. The capital will be strategically allocated to enhance production capacity and widen the dealership network nationwide.

Currently, Simple Energy offers two products – the Simple One and Simple Dot One, and has initiated deliveries in Bengaluru. Plans are underway to establish dealership stores across major Indian cities, including Bengaluru, Mysore, Chennai, and many more in the coming weeks.

(With inputs from agencies.)