India, Sept. 3 -- IPO-bound electric two-wheeler maker Simple Energy is in "works" with a large fundraise to secure funds as it looks more capital for enhancing production capacity and in supply chain, company's Founder and CEO, Suhas Rajkumar, has said.

"We are in works with a very large fundraiser," Rajkumar told PTI on the sidelines of the launch of its first family scooter Wave on Wednesday. The firm is hopeful of getting among the top-five players in the segment in the next 15-18 months, he said.

Declining to give the quantum of funds the company was looking at, he said, "it is not just the product that is going to scale... for us, backing is important because right now we can only scale up to 10,000. But beyond that, we need to in...