Electric vehicle startup Simple Energy in talks to raise $1mn

Electric vehicle startup Simple Energy is in talks with angel investors to raise up to $1 million , its founder Suhas Rajkumar said. The proceeds will be utilised for testing and certification of its 280-km range scooter as the company seeks to secure Automotive Research Association of India's (ARAI) approval for its maiden offering by December, before the proposed launch in February-March next year, Rajkumar said "The company is already bootstrapped with Rs 1.3 crore. We had big offers from some big OEMs (original equipment manufacturers), but we wanted a strong angel partner. So we are in talks with a lot of people to raise a maximum of $1 million,"

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