January 8th, 2025
Oben Electric, a Bengaluru-based electric motorcycle manufacturer, has successfully raised ₹50 crore in its Series A funding round. The company plans to leverage this funding to expand its footprint, scale production, and enhance its product offerings to meet India’s growing demand for sustainable mobility solutions.
Oben Electric, known for its innovative electric motorcycles, has secured ₹50 crore in its latest Series A funding round. This takes the company’s total equity funding to ₹150 crore. The funding round was backed by prominent investors, including Ambis Holding US, Kuberan Ventures, and the Karimjee Group (Africa), alongside Mission Vertical, the Sanjeev Saraf Family Office, and the Pravek Kalp Family Office.
Key Highlights
1. Funding Details
- Series A Total: ₹50 crore raised.
- Cumulative Funding: ₹150 crore in equity financing.
2. Strategic Investor Participation
Investors like Ambis Holding US and Kuberan Ventures bring not only financial backing but also expertise in scaling startups globally.
Expansion Plans: Scaling Distribution and Production
Distribution Network
Oben Electric plans an aggressive expansion of its dealership network:
- Goal: 100 showrooms across 50 cities by FY26.
- Current Presence: 20 operational showrooms in 10 cities, with plans for rapid scaling in Tier 1 and Tier 2 markets.
Production Capacity
- Manufacturing Facility: Located in Bengaluru, with an annual capacity of 100,000 units.
- Planned Upgrades: The company aims to double its production capacity by the end of FY26 to meet increasing market demand.
Product Innovation: The Oben Rorr Series
The Oben Rorr series stands out for its innovative features and affordability, targeting urban commuters.
Key Features of the Oben Rorr EZ
- Price: Starting at ₹89,999, making it highly competitive in the market.
- Performance: Accelerates from 0-40 km/h in 3.3 seconds, with a top speed of 95 km/h.
- Range: Impressive 175 km per charge, ideal for daily urban commutes.
- Battery Technology: Powered by Lithium Iron Phosphate (LFP) batteries, offering improved safety and durability.
Target Audience
- Designed specifically for urban commuters seeking reliable, high-performance, and affordable electric motorcycles.
- The Oben Rorr series addresses the pain points of Indian consumers, including range anxiety, affordability, and performance needs.
Founder’s Quote
Under the leadership of Madhumita Agrawal, Founder and CEO, Oben Electric has built a strong foundation by focusing on delivering premium EVs that meet the unique demands of Indian consumers.
“We’ve built this company from the ground up, focusing on delivering high-quality, high-performance EVs that cater to the unique needs of Indian consumers,” said Agrawal.
The company’s proprietary technology and efficient manufacturing processes are critical drivers of its success, ensuring scalability and reliability in a competitive market.
Oben Electric’s Role in India’s EV Growth
India’s EV sector is projected to grow exponentially, driven by government incentives, rising fuel prices, and increasing consumer demand for sustainable mobility. Oben Electric is well-positioned to capitalize on this trend with:
- Innovative Products: Introducing advanced battery technology and high-performance motorcycles tailored for Indian roads.
- Strategic Expansion: Strengthening its distribution network and production capabilities to meet growing market demands.
- Commitment to Sustainability: Aligning its operations with India’s vision of reducing carbon emissions through electric mobility.
With this funding, Oben Electric is set to become a leading player in India’s rapidly evolving EV market, catering to both urban and rural consumers.
