- Funding round saw participation from Ambis Holding US, Kuberan Ventures, Karimjee Group from Africa, Mission Vertical-US Based VC, Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office, and other existing investors.
- Oben Electric plans to use the funds to expand its existing product offerings & distribution network to 100+ showrooms across 50 cities in India by FY26.
- With this round, Oben Electric has raised a total of INR 150 Crores in equity funding to date utilizing which company has established itself as a market leader in e-motorcycle space with 4 e-motorcycle variants, 100,000 Vehicles/Year manufacturing facility & presence across 10 cities with 20+ showrooms.
With this funding, the company aims to expand its existing distribution network to 100+ showrooms along with Oben Care service centers across 50 cities in India by FY26, solidifying its leadership in the Indian Electric motorcycle market. Company also plans to utilize these funds to expand its current product offerings.
Oben Electric, is already making strides with its superior, vertically integrated & well researched e-motorcycle, selling under the brand name of “Rorr”, with 20+ stores across 10 cities in India such as Bengaluru, Delhi, Jaipur, Lucknow, Pune, Kochi, and Thiruvananthapuram, positioning it among the Top 10 players in the represented markets.
Commenting on the fundraise, Madhumita Agrawal, Founder & CEO, Oben Electric, commented, “We are thrilled to close this Series A funding round, marking a pivotal moment in our journey to build a global EV powerhouse. What differentiates Oben Electric is our unwavering commitment to innovation and independence. We’ve built this company from the ground up, without reliance on strategic investors or corporate backing, empowering us to remain agile and focus on what truly matters - delivering high-quality, high-performance EVs that address the unique needs of Indian consumers. We are deeply grateful to our new investors for their confidence in our vision, and to our existing investors for their ongoing support. 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.”
Vinod Rustagi, Group CEO & Managing Director, Karimjee Group, Africa commented “India being world’s largest motorcycle market with ~12Mn units sold last year, giving them 66% market share of all 2-wheeler sales & only 1% of them being electric, we think it’s inevitable of ICE motorcycles to transition into electric. Premium & mass commuter electric-motorcycle segment is a blind spot of EV transition with limited to players, primed for disruption. Being present at the right time & place with right capabilities is essential for disruption & growth. Among a handful of EV companies working on motorcycle EV transition, we found Oben Electric best suited to disrupt & lead this transition. We believe Oben is ready for growth & will disrupt ICE to EV transition in the E-Motorcycle segment.”
Jeff Mamera, Founder & General Partner, Mission Vertical Capital said "We are very excited about the large and quickly growing total addressable market for Oben's e-motorcycles. Our deep dive into the industry convinced us that this management team has built an excellent intellectual property portfolio, efficient manufacturing and brought in strong talent to execute their go-to-market strategy."
Oben Electric has garnered attention in the Indian E-Motorcycle market with its groundbreaking Rorr product line. Company recently launched Oben Rorr EZ (Easy), priced from INR 89,999, which is transforming city commute with an impressive acceleration (0-40 km/h in 3.3 seconds), a top speed of 95 km/h and a range of up to 175 km (IDC) across three battery variants. Company continues to offer its flagship Oben Rorr, a high-performance electric motorcycle known for its exceptional specifications. All Oben products feature high performance LFP (Lithium Iron Phosphate) battery technology, the first of its kind in India's electric two-wheeler market, delivering superior resilience and longevity, even in extreme weather conditions.
Oben Electric stands out in the evolving EV market as an R&D-driven, vertically integrated company who designs & manufactures its own electric motorcycles and key components like batteries, motors, vehicle control units and home fast chargers unlike its competitors. Oben, with a team 300+ experts, manufactures its motorcycles & components at its fully compliant & operational 100K+ unit capacity manufacturing plant based in Jigani, Bangalore, with a strong domestic supply chain support of 150+ vendors. Oben Electric e-motorcycles have been tested on 200+ parameters (including components) for road worthiness, supported by 75000+ third party charging stations across 1600+ cities in India, 10+ ecosystem partners for insurance, financing & RSA services.
Oben Electric with its vision of ‘Designed in India for the World’ is primed to disrupt electric mobility space worldwide with its cutting-edge technology, superior product offerings, a growing distribution network, stable domestic supply chain, de-risked from regulatory & compliances perspective enabling them to scale production. Company aims to expand both its offerings & distribution network including exports for which it plans to raise USD 50 Million in Series B by Mid of 2025.
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