Electric scooter maker Simple Energy raises $20 million in primary equity funding

Electric scooter maker Simple Energy on Monday said it had raised $20 million in a funding round.

The entire funding was raised in primary equity, founder and chief executive Suhas Rajkumar said. The firm has raised about $40 million in funding so far. The latest funding round was led by Balamurugan Arumugam, the chief growth officer at cashflow management software maker Klarity, Rajkumar added.

The funding round saw participation from the Desai family office, promoters of the aluminium manufacturer Apar Industries, and existing investors like the Haran family office, Dr A Velumani’s family office, and the Vasavi family office.