Oben Electric, one of India’s fastest-growing and innovative homegrown electric motorcycle manufacturers, has successfully closed its Series A funding round, raising INR 50 crore. The round was backed by prominent investors, including Ambis Holding US, Kuberan Ventures, Karimjee Group from Africa, Mission Vertical (a US-based VC), Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office, and other existing supporters. This brings the company’s total equity capital raised to date to INR 150 crore.
The newly secured funds will support Oben Electric’s ambitious growth plans, including expanding its distribution network to over 100 showrooms and establishing Oben Care service centers in 50 cities across India by FY26. Additionally, the company plans to use the funding to develop its product portfolio further, solidifying its leadership in the Indian electric motorcycle market.
Transforming the Indian Motorcycle Market
India, the world’s largest motorcycle market with annual sales of approximately 12 million units, has only 1% penetration in the electric segment. Oben Electric is well-positioned to lead this inevitable transition, with its flagship e-motorcycle, Rorr, already establishing a strong presence across 20+ stores in 10 cities, including Bengaluru, Delhi, Pune, and Kochi. Oben’s Rorr EZ model, priced from INR 89,999, boasts advanced features like a 175 km range, a top speed of 95 km/h, and an acceleration of 0-40 km/h in just 3.3 seconds, setting new benchmarks in urban commuting.
Commenting on the Funding Round
“We are thrilled to close this Series A funding round, marking a pivotal moment in our journey to build a global EV powerhouse,” said Madhumita Agrawal, Founder & CEO, Oben Electric. “This investment validates our vision of creating high-quality, high-performance EVs tailored to the unique needs of Indian consumers. With these funds, we aim to expand across India and tap into strategic international markets, further cementing Oben Electric’s position as a global leader in electric mobility.”
Investor Confidence in Oben Electric’s Vision
“India’s massive motorcycle market is primed for disruption, and Oben Electric is leading the charge,” said Vinod Rustagi, Group CEO & Managing Director, Karimjee Group. “The shift from ICE to electric motorcycles is inevitable, and Oben’s cutting-edge technology and market readiness uniquely position it to spearhead this transition.”
Jeff Mamera, Founder & General Partner, Mission Vertical Capital, added, “Oben Electric has demonstrated an exceptional ability to innovate and execute. The company’s strong intellectual property, efficient manufacturing, and robust go-to-market strategy make it a standout in the rapidly growing e-motorcycle segment.”
Vertical Integration and Technological Excellence
Oben Electric stands apart from competitors as a vertically integrated, R&D-driven company, designing and manufacturing its electric motorcycles and critical components such as batteries, motors, and vehicle control units. The company’s manufacturing facility in Bengaluru boasts a production capacity of 100,000+ units annually, supported by a domestic supply chain of over 150 vendors. Oben’s products feature advanced Lithium Iron Phosphate (LFP) battery technology, ensuring superior performance and durability, even in extreme weather conditions.
The Road Ahead
With its vision of “Designed in India for the World,” Oben Electric plans to scale its offerings and distribution network while exploring export opportunities. The company aims to raise USD 50 million in Series B funding by mid-2025 to fuel its international expansion and accelerate its mission to redefine global electric mobility.
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