Oben Electric Raises Rs 50 Cr In Series A Funding Round

Oben Electric, a homegrown electric motorcycle manufacturer, has raised INR 50 crore in its Series A funding round from both international and domestic investors.

The round also saw participation from Ambis Holding US, Kuberan Ventures, Karimjee Group from Africa, Mission Vertical, Sanjeev Saraf Family Office and Pravek Kalp Family Office.

Funding utilisation

The company plans to use these funds to grow its product range and expand its distribution network to over 100 showrooms and Oben Care service centers in 50 cities across India by FY26.

Read also - Moonrider raises $2.2 Mn In Seed Funding Round

Madhumita Agrawal, Founder & CEO, 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.

Jeff Mamera, Founder and General Partner at 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."

In a press release, Oben Electric stated that it stands out in the growing EV market as an R&D-focused, vertically integrated company. It designs and manufactures its own electric motorcycles and key components like batteries, motors, vehicle control units, and home fast chargers, unlike its competitors.

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