In Series A; EV scooter maker Simple Energy raises $20 Mn

Electric vehicle (EV) and clean energy startup Simple Energy has successfully raised $20 million in its Series A funding round.

[{"selector":"#anim-bf295554-1183-4439-b651-07b1fba394e5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-560a529e-787f-438f-b138-c2290c2b997d","keyframes":{"transform":["translate3d(0px, 183.37217%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6bd20d77-30ad-40f5-98ea-e9137a36d612 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.2305743701777914%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The newly acquired funds are earmarked for scaling up the production of Simple Energy’s flagship products, Simple One and Simple Dot One.

[{"selector":"#anim-1aea3aac-b032-4381-ae66-e94191198aaf","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-20e2a063-6e68-42a3-8846-27e951f71e08","keyframes":{"transform":["translate3d(0px, 183.37217%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f0879a58-d6ef-496d-803f-b442c7b3c80d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.8101712385797057%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Simple Energy, founded in 2019, has made significant strides in the EV sector. The company claims that 95% of its scooter components are manufactured in-house.

[{"selector":"#anim-c43a07d9-bd19-482e-b8dc-e65d0c9d806f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-12.053571580135731%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-bae165e5-235c-4d52-a3ba-f922fef93995","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0fba73e7-666b-48fb-bd74-fb5b3fc02ff6","keyframes":{"transform":["translate3d(0px, 155.68553%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Its two main offerings, Simple One and Simple Dot One, boast ranges of 212 kilometers and 151 kilometers, respectively.

[{"selector":"#anim-5f343024-7a1d-4588-8850-fa987541d0d6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-cc76fce2-f909-40cd-bf02-e9a3a1ea30c3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5f87bc03-3693-432a-83c8-cb919366f0c7","keyframes":{"transform":["translate3d(0px, 235.59489%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The company operates a 200,000 square feet manufacturing plant located in Shoolagiri, Tamil Nadu, where it focuses on surface and chassis designs, as well as battery and motor development.

[{"selector":"#anim-b5e4adf7-3110-4424-8e31-02513c79fe21 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(6.991071516478726%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-09be56f1-b646-4931-a704-74c13a806c86","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2c067a5b-97e6-48f9-a50a-e908a4f11f81","keyframes":{"transform":["translate3d(0px, 136.79506%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The timing of this funding round is significant as it comes when the top two players in the EV scooter market, Ola Electric and Ather Energy, are preparing for public listings.

[{"selector":"#anim-b3c9045b-8660-4803-b65a-ffb26a56f894 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-60bf0878-6eaa-409c-8089-f06db112665d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-60a70360-abf9-48f7-9685-67f54ed78840","keyframes":{"transform":["translate3d(0px, 152.76156%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]