Bengaluru-based electric motorcycle manufacturer Oben Electric has raised ₹50 crore ($6 million) in a Series A funding round. The round saw participation from Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical, Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office, and other existing investors.
This latest funding brings Oben Electric’s total equity capital raised to ₹150 crore ($18 million) since its inception in 2020. In June 2023, the company secured ₹40 crore ($4.8 million) in an extended pre-Series A round.
Expansion Plans and Product Development
The newly raised funds will be used to expand Oben Electric’s distribution network to over 100 showrooms and establish Oben Care service centres in 50 cities across India by FY26. The company also plans to expand its product lineup to cater to growing demand in the electric mobility space.
In a press release, Oben Electric emphasized its commitment to innovation in electric mobility through its integrated approach, advanced technology, and strong domestic supply chain, enabling scalability while mitigating regulatory and compliance risks.
Flagship Product: Oben Rorr
Oben Electric is best known for its flagship electric motorcycle, the Oben Rorr, which is sold through more than 20 stores in 10 cities, including Bengaluru, Delhi, Jaipur, Lucknow, Pune, Kochi, and Thiruvananthapuram. Recently, the company introduced the Oben Rorr EZ, priced from ₹89,999, featuring cutting-edge Lithium Iron Phosphate (LFP) battery technology that ensures durability and performance even under extreme conditions.
Testing and Ecosystem Integration
Oben Electric claims its e-motorcycles undergo rigorous testing on over 200 parameters to ensure roadworthiness. The vehicles are supported by an extensive ecosystem that includes over 75,000 third-party charging stations in 1,600+ cities and partnerships for insurance, financing, and roadside assistance.
Vision for the Future
Co-founded by Madhumita Agrawal, Sagar Thakkar, and Dinkar Agrawal, Oben Electric aims to revolutionize the electric mobility sector globally. The company’s vertically integrated approach encompasses the design and manufacturing of key components such as batteries, motors, vehicle control units, and home fast chargers.
With its fresh funding and strategic expansion plans, Oben Electric is poised to accelerate the adoption of electric motorcycles in India and beyond, offering cutting-edge products that meet the needs of modern consumers.
