Oben Electric Secures INR 50 Cr Series A Funding to Drive Expansion and Innovation The fresh funds will be used to expand its existing product offerings and distribution network to 100+ showrooms across 50 cities in India by FY26.
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Bengaluru-based electric motorcycle manufacturer Oben Electric has secured INR 50 crore in a Series A funding round led by a consortium of international and domestic investors.
The round saw participation from prominent names such as Ambis Holding US, Kuberan Ventures, Karimjee Group from Africa, Mission Vertical, Sanjeev Saraf Family Office, and Pravek Kalp Family Office. With this latest funding, the startup's total equity raise has reached an impressive INR 150 crore.
The company plans to use the capital to expand its distribution network to over 100 showrooms and establish Oben Care service centers across 50 Indian cities by FY26. Additionally, Oben Electric aims to enhance its product lineup and boost production capacity at its state-of-the-art 100,000-unit-per-year manufacturing facility in Bengaluru.
Madhumita Agrawal, Founder and CEO of Oben Electric, stated, "This funding marks a pivotal moment in our journey to build a global EV powerhouse. Our commitment to innovation and independence sets us apart. With no reliance on strategic investors, we have the agility to focus on delivering high-quality, high-performance EVs tailored to Indian consumers. We deeply value the trust of our investors as we embark on our next phase of growth, aiming to expand across India and enter strategic international markets."
Oben Electric has gained traction in the Indian electric motorcycle market with its flagship product, Rorr, and its newly launched Oben Rorr EZ (Easy), priced from INR 89,999. The Rorr EZ offers a top speed of 95 km/h, an acceleration of 0-40 km/h in just 3.3 seconds, and a range of up to 175 km (IDC) across three battery variants.
The company prides itself on its vertically integrated approach, designing and manufacturing key components such as batteries, motors, vehicle control units, and home fast chargers. Its Jigani-based manufacturing plant, supported by over 150 domestic vendors, ensures high-quality production standards, with motorcycles tested on 200+ parameters.
Karimjee Group CEO Vinod Rustagi remarked, "India's two-wheeler market is primed for EV disruption, and Oben Electric is well-positioned to lead the transition. The company's innovative approach and robust manufacturing capabilities make it a standout player."
With plans to raise USD 50 million in a Series B round by mid-2025, Oben Electric is setting its sights on global expansion while solidifying its leadership in the Indian electric motorcycle market.
