Two-wheeler EV maker Simple Energy eyes another fundraise
The planned fresh fund raise will help Simple Energy to scale production even as the company has introduced a new model.
Simple Energy, an electric two-wheeler manufacturer, is planning another fundraising round to bolster its production capacity and supply chain, according to the company's founder and CEO, Suhas Rajkumar. The company recently unveiled its first family model, the Simple Wave, priced at Rs 1,09,999 for three variants - Wave S, Wave+, and Wave+.
Rajkumar hinted that the company aims to dominate the market by scaling production to 10,000-12,000 scooters by the end of the current financial year, a target currently hindered by supply constraints. The company has been manufacturing between 1,500-2,000 vehicles per month over the past six months, with demand estimated at around 4,000 units.
Rajkumar emphasized that securing additional capital would enable the company to realize its EBITDA potential and contribute to a successful IPO.
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