India, Sept. 25 -- Electric two-wheeler startup Simple Energy has raised $10 Mn (about INR 88 Cr) in a bridge round from its existing investors. The round was led by the family office of Thyrocare founder Dr Arokiaswamy Velumani, with participation from Balamurugan Arumugam and Haran Family Office.

The new round comes two months after the EV startup secured $20 Mn in its Series A funding in July.

Cofounder and CEO Suhas Rajkumar told Inc42 that the EV startup raised the fresh capital to open more stores in existing and new markets.

"We are entering new markets and trying to increase our market share. So, now we want to focus on customer education, branding and other activities. While some part of the funds will go towards R&D and worki...