Oben Electric raises $6 Mn in Series A

Electric motorcycle manufacturer Oben Electric has raised Rs 50 crore ($6 million) in a Series A funding round from Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical, Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office, and other existing investors.

This funding brings the total equity capital raised by the company to Rs 150 crore ($18 million) to date. In June 2023, the startup raised Rs 40 crore ($4.8 million) in an extended pre-Series A round.

The fresh funds will be deployed towards expanding its existing distribution network to over 100 showrooms along with Oben Care service centers across 50 cities in India by FY26 and expanding its current product offerings, Oben Electric said in a press release.

Co-founded in 2020 by Madhumita Agrawal, Sagar Thakkar, and Dinkar Agrawal, Oben Electric designs and manufactures electric motorcycles and key components like batteries, motors, vehicle control units, and home fast chargers. The company aims to empower the electric mobility space worldwide with its cutting-edge technology, superior product offerings, a growing distribution network, and a stable domestic supply chain, de-risked from a regulatory and compliance perspective, enabling them to scale production.

Oben Electric says that it is making strides with its superior, vertically integrated, and well-researched e-motorcycle, selling under the brand name "Rorr," with over 20 stores across 10 cities in India, such as Bengaluru, Delhi, Jaipur, Lucknow, Pune, Kochi, and Thiruvananthapuram.

According to the Bengaluru-based company, it has recently launched the Oben Rorr EZ (Easy), priced from Rs 89,999. The company claims that all its products feature high-performance LFP (Lithium Iron Phosphate) battery technology, delivering superior resilience and longevity, even in extreme weather conditions.

Oben Electric also claims that its e-motorcycles have been tested on over 200 parameters (including components) for road worthiness, supported by more than 75,000 third party charging stations across over 1,600 cities in India, and more than 10 ecosystem partners for insurance, financing & RSA services.