Simple Energy Raises $20 Million in Series A Funding From Investors 

Currently in a pilot phase in Bengaluru, Simple Energy has begun deliveries in the city and is preparing to open dealership stores in Bengaluru, Mysore, Chennai, Vijayawada, Goa, Vizag, Kochi, Mumbai, Pune, Ahmedabad, Surat, Delhi, and Hyderabad in the coming weeks, the statement said. In February last year, the company raised $20 million in bridge funding. The company had said that funds generated would be put to use to expedite the start of delivery and support the ramp-up of production.  In March 2022 also the company raised an undisclosed amount. Meanwhile, the company plans to have e-cars by 2025. Speaking to ET Auto, Rajkumar said, “We are also working on an electric car and hopefully it will be launched by 2025.” Rajkumar further highlighted that the company is planning to focus on strong hybrid cars as well.  (With inputs from PTI)

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