Simple Energy raises $180 million in equity round
In short
Simple Energy raised $180 million in an all-equity funding round.
The money came from several backers, including the family office of Thyrocare founder Dr Arokiaswamy Velumani. The company wants to become one of the top five electric two-wheeler makers, but the reports do not give a date for that goal.
What the reporting says
Simple Energy raised $180 million in an all-equity round that its backers described as the company’s largest funding round. The Economic Times summary says the round was led by the family office of Thyrocare Technologies founder Dr Arokiaswamy Velumani, with participation from founder and CEO Suhas Rajkumar, cofounder and CFO Ankit Gupta, Amit Mishra and the Haran Family Office. The reporting says Simple Energy aims to reach a top-five EV two-wheeler spot, but does not give a timeline.
Why it matters
Simple Energy raised $180 million in an all-equity round, which publisher summaries describe as its largest funding round. The backers listed include the family office of Thyrocare Technologies founder Dr Arokiaswamy Velumani, founder and CEO Suhas Rajkumar, cofounder and CFO Ankit Gupta, Amit Mishra and the Haran Family Office. The company’s stated ambition to reach a top-five EV two-wheeler position is mentioned, but the timeline is not stated.