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Simple Energy raises Rs 165 crores to ramp up production of its electric scooter.
In January, Simple Energy inaugurated its manufacturing plant in Tamil Nadu, made with an initial investment of over ₹100 crores.
Bengaluru-based EV startup, Simple Energy, has raised ₹165 crores (USD 20 million) in its ongoing Bridge round. The company aims to use the fresh capital to ramp up production of its flagship product, the Simple ONE electric scooter.
The new funds will be utilized in a phased manner to help the company scale up its operations and bring the Simple ONE to market. Dr. Arokiaswamy Velumani, founder of Thyrocare Technologies, Ashwin Hinduja of Gokaldas Group, Sanjay & Sandeep Wadhawa, owner of Nash Industries, Sripriya Kalyanasundaram, chief strategy and evangelist to CEO’s office, Lambda Test, Purple Moon Ventures along with existing investors Manish Bharti and Vasavi Green Tech took part in the funding round.
Recently, Simple Energy inaugurated its manufacturing plant named ‘Simple Vision 1.0’ in Tamil Nadu. The plant is spread across 2,00,000 sq ft and is built with an initial investment of over ₹100 crores. It has the capacity to produce 10 lakh electric scooters per year. The plant will start rolling out Simple OneNE electric scooters soon.
The company has received more than 1 lakh bookings for its first electric scooter Simple ONE. The scooter was launched in August 2021. With a standard variant priced at ₹1,09,999 (ex-showroom) and a range of 203km, and a long-range variant priced at ₹1,44,999 (ex-showroom) with a range of over 300km in ideal conditions, the Simple ONE offers an attractive and affordable option for eco-conscious consumers.
One of the standout features of the Simple ONE is its 8.5kW motor, which was developed in-house by the company. With a 96% efficiency rate and peak torque of 72Nm, the motor provides explosive acceleration, allowing the scooter to reach 0-40 km/h in just 2.77 seconds. This makes Simple ONE the quickest scooter available on the market.
The Simple ONE electric scooter will come with an array of technologically advanced features, such as 4G connectivity, Bluetooth, OTA updates, music, and call controls, an SOS message feature, geo-fencing, document storage, remote telemetry, fast charger location, and TPMS.
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