Simple Energy, a rising electric vehicle (EV) and clean energy startup, has secured $20 million in Series A funding to boost its local production capabilities. The investment round was backed by existing investors, including high-net-worth individuals from the Haran family office, Dr. A Velumani’s family office, the Vasavi family office, and the Desai Family office, known for their involvement with Apar Industries.

Suhas Rajkumar, Founder and CEO of Simple Energy, expressed enthusiasm about the growing EV market in India, stating, “As the adoption of EVs accelerates significantly in India, we are committed to playing a pivotal role in this burgeoning ecosystem”. The new funds will be strategically allocated to enhance production capacity and expand the company’s dealership network across the country.

Simple Energy aims to achieve a top-line revenue of Rs 150 crore this fiscal year. Established in 2019, the company operates a motor manufacturing unit within its 200,000 square feet facility in Shoolagiri, Tamil Nadu. The startup offers two models: the ‘Simple One,’ with a certified range of 212 kilometers, and the ‘Simple Dot One,’ with a certified range of 151 kilometers.

Currently, Simple Energy is in the pilot phase in Bengaluru, where it has commenced deliveries and is preparing to open new dealerships in additional regions.

Balamurugan Arumugam, Chief Growth Officer at Klarity, an HNI participating in the funding round, highlighted the startup’s strategic vision, “With a clear vision and a strategic roadmap mapped out for the next phase of growth, Simple Energy is primed to redefine the landscape of technologically advanced EV two-wheelers in India and beyond".