Simple has secured $20 million (₹167.46 crore) in Series A funding to accelerate growth, enhance production, and expand its market reach in India. The funds will be used to ramp up production of its flagship electric scooters, Simple One and Simple Dot One, explore more affordable variants, and establish a broader dealership network. The investment will also go towards research and development to introduce innovative electric vehicle products, aiming to enhance customer accessibility and bolster sales.
With a target revenue of ₹150 crore for the current fiscal year, Simple Energy is poised to become a major player in the Indian electric vehicle market, offering two variants of Simple One with certified ranges of 212 km and 151 km, and committed to making electric two-wheelers more accessible and driving sustainability in India.
