EV manufacturer Oben Electric closes Rs 100 Cr in extended Series A round
In an expanded Series A round, electric motorcycle manufacturer Oben Electric raised an extra Rs 50 crore ($6 million), bringing its total Series A funding to Rs 100 crore ($12 million) and total capital raised to Rs 200 crore ($24 million).
The Kay family, Helios Holdings, Sharda family office, and current backers participated in the most recent fundraising event in May 2025.
The money raised will go towards Oben’s goals of growing its business to over 150 showrooms in 50 cities by FY26, increasing production at its current facility in Bengaluru, and developing new products through its new “O100” platform, which will concentrate on electric motorcycles under Rs 1 lakh.
Madhumita Agrawal, Sagar Thakkar, and Dinkar Agrawal co-founded Oben Electric in 2020. The company designs and produces electric motorcycles as well as essential parts like motors, batteries, vehicle control units, and home fast chargers.
“The extended Series A funding is a strong vote of confidence from our investors and comes at a time when our momentum is accelerating nationwide,” said Madhumita Agrawal.
Oben Electric claims to have grown quickly since its initial $6 million Series A in January, with 37 retail locations spread across 26 cities in 13 states. Electric motorcycles and their essential parts, such as LFP batteries, motors, and vehicle control units, are developed and produced by the company in-house.
With the help of a supply chain comprising more than 150 vendors, its manufacturing facility in Jigani, Bengaluru, can produce 100,000 units annually.
With full vertical integration, more than 25 patents, and R&D-led design, the company stands out from established competitors and startups like Tork Motors in the electric motorcycle market.
