EV maker Simple Energy gets $21 million funding

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.

The over-subscribed funding round was driven by the company’s current investors and board members, Manish Bharti of UiPath and Raghunath Subramanian, Non-executive Chairman, UiPath India, respectively.

This round also witnessed participation from new investors such as Sattva Group, Athiyas Group and several high net-worth individuals (HNIs), it said.