Oben Electric Raises Rs 85 Cr in Pre-Series B Round

Oben Electric, an electric motorcycle manufacturer, has raised Rs 85 crore in a pre-Series B funding round from Indian American family offices, including Raj K Soin, Musa Dakri, and Ramesh Bhutada, along with existing investors. 

Following its initial $6 million Series A in January, Oben Electric raised an additional ₹50 crore ($6 million) in an extended Series A round, bringing its total Series A funding to ₹100 crore ($12 million) as of June this year.

The newly raised capital will be used to expand Oben Electric's national retail presence and support upcoming product launches. It also plans to grow its distribution network in key regions while boosting brand visibility. Additionally it will accelerate product development as Oben Electric prepares to scale its operations.

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Madhumita Agrawal, Founder & CEO, Oben Electric, said, "This fundraise is a strong validation of investor confidence in Oben Electric's operating momentum, capital discipline, and growth roadmap. This new funding gives us clear visibility and confidence to achieve COGS break-even by March 2026, an important milestone for any EV OEM operating at scale. As we expand our distribution footprint, backed by growing customer validation and deepening dealer interest we are well poised to progress toward EBITDA break even in 2027. We remain focused on scaling sustainably while building a category defining electric motorcycle company from India."

Raj K Soin, Chairman and CEO, Soin International and Ex-Founder of MTC Technologies (USA), said, "When I met Madhumita and Dinkar I was very favourably impressed by their plans and focus towards building an independent e motorbike company. When I visited the manufacturing facility I was much impressed by their operation and extreme focus towards quality and processes. It was combination of these factors and large unfilled market for e bikes that led me to invest in their company."

Musa Dakri, Founder & Chairman, Wallis Bank (USA), said, "The electric two-wheeler segment is expanding significantly. Awareness around pollution, climate change, and sustainable mobility provide continued push for EV products. We believe Oben Electric is positioned well to grow- quietly, powerfully, sustainably."

Ramesh Bhutada, Founder of Star Pipe Products (USA), said, "We decided to invest because Oben is managed by passionate and capable leadership who believes in offering a first ever ecofriendly EV motorcycle to common man in India. We see tremendous potential for this venture."

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About Oben Electric

Founded in 2020 by Dinkar Agrawal and Madhumita Agrawal, Oben Electric specializes in the design, development and manufacturing of electric motorcycles and critical EV components. The company operates a 3.5-acre integrated manufacturing facility in Bengaluru, producing key components such as batteries, motors, chargers and display systems.

The company uses lithium iron phosphate (LiFePO₄) battery technology, known for enhanced safety, longer lifespan, and stable performance. Oben Electric holds over 25 patents related to its proprietary technology and EV components.

Earlier this year, Oben Electric launched the Rorr EZ Sigma, a city-focused electric motorcycle designed for daily commuting. The model features a reverse mode, refined ergonomics, and a connected color TFT display with smart functionalities.

In 2025, the company expanded its sales channels to online platforms, including Amazon and flipkart. Currently, Oben Electric operates more than 85 showrooms across 70+ cities in 18 states.

Looking ahead, Oben Electric expects to achieve INR 100 crore in revenue in FY26. It aims to reach cost of goods sold (COGS) break-even by March 2026 and EBITDA break even by 2027. The company plans to expand its network to 150 exclusive showrooms and service centers by March 2026, with a longerterm target of 500 showrooms over the next two years.

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