Simple Energy to raise Rs 75 crore for e-scooter launch in 2021 Leave a comment


Bangalore-based EV start-up Simple Energy aims to launch its electric scooter in May 2021.

  • Simple Energy e-scooter has a claimed range of 240km

  • It has a claimed top speed of 100kph

  • To go on sale in Bengaluru and Delhi initially

The company claims to have raised an undisclosed amount from angel investors UiPath’s VP – Global Business and Finance Operations Vel Kanniappan, and from pre-series funding from four other investors.

Simple Energy is also looking to raise USD 8-10 million (Rs 51-74 crore) in Series A funding in the second quarter of this year. The start-up aims to launch its flagship scooter in May 2021, making it available initially in Bangalore and Delhi, followed by Chennai, Mumbai, and Hyderabad.

 

 

The Simple Energy electric scooter – christened Mark 2 – is claimed to have a 240km range in Eco mode. It has a a mid-drive motor, a removable battery, a claimed 0-50kph time of 3.6 seconds and a top speed of 100kph. The e-scooter is also expected to come with features such as navigation, Bluetooth connectivity and more.

Suhas Rajkumar, founder, Simple Energy, said, “Closing the pre-series round has given the year a great start. We’re glad to have investors like Vel Kanniappan and the other four investors believe in the idea of Simple Energy. This pre-series funding has come in at the right time as we are launching the Mark 2 e-scooter in the mid of 2021. We look forward to a long-term association with them.”

In November, the company had announced its prototype Mark 1 electric scooter achieved an ARAI-certified range of more than 230km with a developed-in-house 4kWh battery pack. The Simple Energy Mark 2, in comparison, is said to feature a larger, 4.8 kWh battery.

Also see:

Ather opens its first showroom in Mumbai



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