Simple Energy Closes Pre-Series Funding With An Undisclosed Amount

Simple energy, the Bangalore based EV startup has announced that it raised an undisclosed amount from the angel investors Vel Kanniappan and four other investors who participated in this round of funding.

Simple energy is also looking to raise 8 -10 million dollars in series A funding in the second quarter of this year. The launch of the highly anticipated flagship scooter will be in the month of May 2021 starting with Bangalore, Delhi, followed by Chennai, Mumbai, and Hyderabad.

The highly likely revealed specification for the mark 2 scooter is 240 km range in eco mode with a top speed of 100 kmph, a mid-drive motor along with a removable battery and futuristic design; it comes with all packed smart features like a touch screen onboard navigation, Bluetooth, etc.

Speaking on this announcement, Suhas Rajkumar, Founder of Simple Energy, “Closing the pre-series round has given the year a great start. We’re glad to have investors like Mr. 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 the product Mark-2 in the mid of 2021. We look forward to a long term association with them.”

As announced in November 2020, Simple Energy’s prototype Mark 1 achieved an ARAI approved range of more than 230km with a 4-kilowatt hour battery pack that has been developed in-house by Simple Energy.

The Mark 2 will be offered with a 4.8 kWh battery, and with a claimed range of 240 km in eco mode, with a speed of 100kmph and acceleration 0-50kph in 3.6 seconds.