In a Series A fundraising round, electric motorbike company Oben Electric has secured Rs 50 crore ($6 million) from Pravek Kalp Family Office, Sanjeev Saraf (Polyplex) Family Office, Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical, and other current investors.
With this transaction, the business has now raised a total of Rs 150 crore ($18 million) in equity capital. The business secured Rs 40 crore ($4.8 million) in a lengthy pre-Series A deal in June 2023.
According to a news statement from Oben Electric, the new funding will be used to increase the company’s current product lines and reach over 100 showrooms and Oben Care service facilities in 50 Indian cities by FY26.
Madhumita Agrawal, Sagar Thakkar, and Dinkar Agrawal co-founded Oben Electric in 2020. The company creates and produces electric bikes as well as essential parts including motors, batteries, vehicle control units, and home fast chargers. With its state-of-the-art technology, excellent product options, expanding distribution network, and solid domestic supply chain—all of which have been de-risked from a regulatory and compliance standpoint, allowing them to scale production—the firm hopes to empower the electric mobility industry globally.
Under the brand name “Rorr,” Oben Electric claims to be making progress with their superior, vertically integrated, and well-studied e-motorcycle. The company has more than 20 storefronts spread across ten Indian cities, including Bengaluru, Delhi, Jaipur, Lucknow, Pune, Kochi, and Thiruvananthapuram.
The Bengaluru-based business claims that the Oben Rorr EZ (Easy), which starts at Rs 89,999, was just released. According to the firm, all of its products use high-performance lithium iron phosphate (LFP) battery technology, which offers exceptional durability and resilience even in the most severe weather.
More than 75,000 third-party charging stations spread across more than 1,600 Indian cities, as well as more than ten ecosystem partners for insurance, financing, and RSA services, support Oben Electric’s e-motorcycles, which it says have been tested on more than 200 parameters (including components) for road worthiness.
