Oben Electric secures Rs 50 crore in Series A funding

Oben Electric, one of India’s most innovative and fastest-growing homegrown electric motorcycle manufacturers, has successfully closed its Series A funding round, raising Rs 50 crore. The 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 marking a significant milestone in the company’s growth journey, bringing total equity capital raised by the company to Rs 150 crore to date.

Although India is the world's largest motorcycle market, only 1% of them are electric. This round validates investor confidence that EV transition of motorcycles is inevitable and players like Oben Electric are front runners of it.

With this funding, the company aims to expand its existing distribution network to 100+ showrooms along with Oben Care service centres 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 and 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.”