Electric motorcycle startup Oben Electric has raised Rs 50 crore ($6 million) in a Series A funding round. This investment was led by a mix of Indian and international investors, including Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical, and family offices like Sanjeev Saraf (Polyplex) and Pravek Kalp. With this round, Oben Electric’s total equity capital now stands at Rs 150 crore ($18 million). Earlier, the company raised Rs 40 crore ($4.8 million) in June 2023.
Oben Electric plans to use the new funds to grow its presence across India. By the fiscal year 2026, the company aims to open over 100 showrooms and set up Oben Care service centers in 50 cities. These expansions are part of the company’s goal to make electric motorcycles widely accessible and provide reliable after-sales services.
Innovative Electric Motorcycles
Founded in 2020 by Madhumita Agrawal, Sagar Thakkar, and Dinkar Agrawal, Oben Electric specializes in designing and manufacturing electric motorcycles. The company also produces essential components like batteries, motors, vehicle control units, and home fast chargers.
Oben Electric’s flagship motorcycle, the “Rorr,” has gained popularity in cities such as Bengaluru, Delhi, Jaipur, Lucknow, Pune, and Kochi. Recently, the company introduced the Oben Rorr EZ, a more affordable model starting at Rs 89,999. Both models feature advanced lithium iron phosphate (LFP) batteries, known for their durability in extreme weather conditions.
Oben Electric’s motorcycles can use a network of over 75,000 third-party charging stations across 1,600 cities, ensuring convenience for riders. The company operates a manufacturing facility in Bengaluru capable of producing 100,000 units annually. Supported by over 150 domestic vendors, the facility follows strict quality standards, with each vehicle undergoing more than 200 performance tests before reaching customers.
Vision for Global Growth
Founder and CEO Madhumita Agrawal shared the company’s ambition to become a global leader in the electric vehicle (EV) industry. She also revealed plans to raise an additional $50 million in a Series B funding round by mid-2025.
With India’s two-wheeler market shifting rapidly towards cleaner and more sustainable mobility, Oben Electric is poised to expand its reach both domestically and internationally, offering innovative solutions for eco-friendly transportation.
