Electric motorcycle manufacturer Oben Electric has raised ₹50 crore ($6 million) in a Series A funding round. The investment was led by Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical, Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office, and other existing investors.
The funds will be utilized to expand Oben Electric’s distribution network to over 100 showrooms and Oben Care service centers across 50 cities in India by FY26.
Additionally, the company plans to further diversify its product offerings.
Founded in 2020 by Madhumita Agrawal, Sagar Thakkar, and Dinkar Agrawal, Oben Electric specializes in designing and manufacturing electric motorcycles and their key components, including batteries, motors, vehicle control units, and home fast chargers.
Its flagship e-motorcycle, the “Rorr,” is currently available in over 20 stores across 10 cities in India, including Bengaluru, Delhi, Jaipur, and Pune.
The company recently unveiled the Oben Rorr EZ, priced at ₹89,999.
Also Read:
– Chef Gauri’s Confect Secures ₹1 Crore on Shark Tank India Season 4
Oben Electric claims its motorcycles are equipped with high-performance LFP (Lithium Iron Phosphate) battery technology, providing exceptional durability, even in extreme weather conditions.
The products undergo rigorous testing on more than 200 parameters to ensure roadworthiness and are compatible with over 75,000 third-party charging stations across the country.
With this funding round, Oben Electric’s total equity capital has reached ₹150 crore ($18 million). In June 2023, the company raised ₹40 crore ($4.8 million) in an extended pre-Series A round.
Oben Electric is committed to transforming the electric mobility sector with its advanced technology and an ever-expanding distribution network, aiming to revolutionize the adoption of sustainable transportation in India.
