Simple Energy raises USD 20 mn from investors
The company has been deferring deliveries of the vehicle since December 2021.
"We have received a phenomenal pre-booking response, and to cater to the demand, we are raising funds in a timely manner. The funds raised will be strategically used to aid the production ramp-up and for a quicker delivery commencement," said Suhas Rajkumar, founder and CEO of Simple Energy.
The company claims that it has received over one-lakh bookings for the e-scooters.
"We have successfully de-bottlenecked product constraints and are confident that we will soon start deliveries of Simple ONE," Rajkumar said.
The company recently inaugurated its new facility in Shoolagiri, Tamil Nadu, with an initial ₹100 crore investment,
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