Simple Energy, a Bangalore-based EV startup, has raised an undisclosed amount from the angel investor Mr. Vel Kanniappan and four other investors who participated in the round of funding. The company is also looking to raise $8-10 million in series A funding in the second quarter this year. The launch of the company’s highly-anticipated flagship scooter will be in May this year starting with select cities namely Bangalore, Delhi, followed by Chennai, Mumbai, and Hyderabad.
The highly likely revealed specification for the Mark-2 scooter includes a range of 240 km in eco mode with a top speed of 100 kmph, a mid-drive motor along with a removable battery and futuristic design; it comes with all packed smart features like a touch screen onboard navigation, Bluetooth, etc.
“Closing the pre-series round has given the year a great start. We’re glad to have investors like Mr. Vel and the other four investors believe in the idea of Simple Energy. This pre-series has come in at the right time as we are launching the product Mark-2 in the mid of 2021. We look forward to a long term association with them.”
Mr. Suhas Rajkumar, Founder of Simple Energy
As announced in November 2020, Simple Energy’s prototype Mark-1 achieved an ARAI approved range of more than 230 km with a 4-kilowatt hour battery pack that has been developed in-house.
The Mark-2 will be offered with a 4.8 kWh battery, with a claimed range of 240 km in eco mode, with a speed of 100kmph and acceleration 0-50kph in 3.6 seconds.
