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.
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.
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.