Homegrown electric motorcycle manufacturer Oben Electric has successfully closed its Series A funding round, raising ₹50 crore. The round witnessed participation from notable investors, including Ambis Holding US, Kuberan Ventures, Karimjee Group (Africa), Mission Vertical (US-based VC), the Sanjeev Saraf (Polyplex) Family Office, the Pravek Kalp Family Office, and other existing backers. This latest investment brings the company&rsquo;s total equity capital raised to ₹150 crore, marking a significant milestone in its growth journey.
The company plans to use the funds to expand its distribution network to over 100 showrooms and establish Oben Care service centers in 50 cities across India by FY26. Additionally, the funds will support the expansion of its product portfolio as it aims to strengthen its position in the electric vehicle (EV) market.
Currently operating under the brand name &ldquo;Rorr&rdquo;, Oben Electric has a presence in 20+ stores across 10 cities, including Bengaluru, Delhi, Jaipur, Lucknow, Pune, Kochi, and Thiruvananthapuram.
Statement from the Founder &amp; CEO
Commenting on the funding round, Madhumita Agrawal, Founder &amp; CEO of Oben Electric, said:
"We are thrilled to close this Series A funding round, marking a pivotal moment in our journey to build a global EV powerhouse. This funding will fuel our next phase of growth as we expand across India and set our sights on entering strategic international markets, ultimately positioning Oben Electric among the top global players in the electric mobility space."
New Product Launch: Oben Rorr EZ
The company recently launched the Oben Rorr EZ (Easy), priced at ₹89,999. This model boasts impressive features, including:
Acceleration: 0-40 km/h in 3.3 seconds.
Top Speed: 95 km/h.
Range: Up to 175 km (IDC), offered in three battery variants.
All Oben motorcycles incorporate high-performance LFP (Lithium Iron Phosphate) battery technology, which the company claims is the first of its kind in India&rsquo;s electric two-wheeler market. The technology promises enhanced resilience and longevity, even in extreme weather conditions.
With this funding and its innovative product lineup, Oben Electric is gearing up for rapid growth in the Indian market and aims to establish a foothold in international EV markets.
&nbsp;
&nbsp;
Source : The Economic Times

Homegrown electric motorcycle manufacturer Oben Electric has successfully closed its Series A funding round, raising ₹50 crore

Oben Electric Secures ₹50 Crore in Series A Funding to Accelerate Expansion and Product Development