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Ev Maker Simple Energy Gets $21 Million Funding

Nov 24, 2021•over 3 years ago

Amount Raised

$21 Million

MumbaiSoftware

Description

Mumbai: Bengaluru-based EV maker Simple Energy on Wednesday said it has raised $21 million (around Rs 156 crore) in a funding round. The aim was to raise $15 million in fundraising, but immense investor interest resulted in the company mopping up more capital in the pre-series investment round, Simple Energy said in a statement.

Company Information

Company

Simple Energy

Location

Mumbai, Maharashtra, India

About

The aim was to raise $15 million in fundraising, but immense investor interest resulted in the company mopping up more capital in the pre-series investment round, Simple Energy said in a statement. This fresh capital will be utilised to increase manufacturing capacity, accelerate new product development, and expand experience centres, consequently bolstering the company's expansion plans, the company stated. Bengaluru-based EV maker Simple Energy on Wednesday said it has raised $21 million (around Rs 156 crore) in a funding round. Commenting on his investment in the EV firm, Subramanian said, Simple Energy has tremendous potential and will spearhead innovation in the industry.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech