Simple Energy to raise $100mn in next phase
Chennai: Electric vehicle manufacturer Simple Energy is in the process of raising $100 million as part of its next round of fund raising even as it scales up supply chain and retail footprint for its just launched product Simple One. Suhas Rajkumar, founder-CEO, Simple Energy said, “So far we had cumulatively raised just under $50 million and now we’re raising $100 million. We’ve already raised a large chunk of it and will complete the fund raise round by the end of this quarter.”
The current round has seen participation by family offices, institutions as well as the company’s existing shareholders. Simple Energy has just started production and it began selling its e-scooter from June first week.
