Oben Electric, an innovative electric two-wheeler manufacturer based in Bengaluru, has successfully raised INR 50 Crore in its Series A funding round. This significant milestone brings the total equity raised by the company to INR 150 Crore. The fresh funds will play a crucial role in expanding Oben Electric’s distribution network and enhancing its product offerings, propelling the company to the forefront of India’s electric vehicle (EV) revolution.

In this article, we’ll explore the details of this funding round, Oben Electric’s strategic plans, and the broader impact this has on the electric mobility space in India.

What is Oben Electric?

Founded in 2020, Oben Electric is a Bengaluru-based electric two-wheeler startup. Known for its innovative electric motorcycles, particularly the “Rorr” series, Oben Electric is making waves in the Indian market with its impressive range of e-motorcycles.

The company is focused on creating high-performance electric motorcycles that cater to the needs of Indian consumers. Oben Electric has already launched two models — Oben Rorr and Oben Rorr EZ — with cutting-edge LFP (Lithium Iron Phosphate) battery technology. These motorcycles are designed to offer exceptional performance, high speed, and long-range capabilities, even in extreme weather conditions.

Oben Electric Secures INR 50 Crore in Series A Funding

On January 7, 2025, Oben Electric announced that it had successfully closed its Series A funding round, raising INR 50 Crore. This latest round of funding was led by key investors, including Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical, and others, including prominent family offices such as Sanjeev Saraf (Polyplex) and Pravek Kalp.

With the addition of this funding, Oben Electric has raised a total of INR 150 Crores in equity funding to date. These funds will play a crucial role in helping Oben Electric achieve its ambitious expansion goals and establish itself as a leader in India’s rapidly growing electric vehicle market.

Key Investors in Series A Funding:

• Ambis Holding US
• Kuberan Ventures
• Karimjee Group (Africa)
• Mission Vertical (US-Based VC)
• Sanjeev Saraf (Polyplex) Family Office
• Pravek Kalp Family Office

Oben Electric’s Expansion Plans

Expanding Distribution Across India

Oben Electric has big plans to utilize the fresh funds to expand its presence in the Indian market. The company plans to increase its distribution network significantly by opening over 100 showrooms across 50 cities by the end of FY26. Currently, Oben Electric operates 20+ showrooms in 10 cities, including major hubs like Bengaluru, Delhi, Jaipur, Lucknow, Pune, Kochi, and Thiruvananthapuram.

The company also aims to expand its Oben Care service centers, which provide excellent customer service and maintenance support for Oben motorcycle owners.

Enhancing Product Offerings

Oben Electric is also set to expand its product range to cater to a broader market. The company has already gained significant traction with its Rorr motorcycle line, including the Rorr EZ, which is transforming the electric motorcycle segment with its impressive specifications. Oben Electric will leverage this funding to continue to innovate and launch new models that meet the needs of both mass-market and premium customers.

“We are thrilled to close this Series A funding round, marking a pivotal moment in our journey to build a global EV powerhouse,” said Madhumita Agrawal, Founder & CEO of Oben Electric. “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.”

International Expansion

In addition to its domestic plans, Oben Electric has expressed interest in expanding to international markets. Countries such as Nepal, Sri Lanka, and African nations are on the radar as potential markets for Oben’s electric motorcycles.

Oben Electric’s Flagship Product: The Rorr

India is the world’s largest motorcycle market, but only about 1% of the motorcycles sold in India are electric. This presents a huge opportunity for companies like Oben Electric to disrupt the market.

Oben Electric’s motorcycles are built with LFP (Lithium Iron Phosphate) batteries, which offer superior resilience and longer lifespans than traditional batteries. These batteries are the first of their kind in India’s electric two-wheeler market, allowing the company to deliver products that can handle India’s extreme weather conditions.

The Rorr Series: High Performance, Affordable EVs

• Oben Rorr EZ: Entry-level model, priced from INR 89,999
  • Price: INR 89,999
  • Acceleration: 0-40 km/h in 3.3 seconds
  • Top Speed: 95 km/h
  • Range: Up to 175 km (IDC)
  • Battery Options: 2.6 kWh, 3.4 kWh, 4.4 kWh LFP battery variants
• Oben Rorr: Premium model, priced at INR 1.49 Lakhs
  • Price: INR 149,999
  • Acceleration: 0-40 km/h in 3.0 seconds
  • Top Speed: 100 km/h
  • Range: 187 km (IDC)
  • Battery Options: 4.4 kWh

These models offer impressive specifications, making them strong contenders in the Indian EV market.

The Oben Electric’s Future Plan

Oben Electric is set to capitalize on the increasing adoption of electric vehicles (EVs) in India. As one of the largest motorcycle markets in the world, India is primed for an EV revolution. Currently, only 1% of motorcycles in India are electric, presenting a massive opportunity for growth in the EV sector.

Oben Electric is strategically positioned to lead this transition, with its superior LFP battery technology and high-performing electric motorcycles. The company is also expanding its manufacturing capabilities with a plant that can produce over 100,000 motorcycles annually.

Investment in R&D and Manufacturing

Oben Electric stands out for its commitment to research and development (R&D). The company has established a vertically integrated manufacturing process, designing and producing its key components such as:

• Batteries
• Motors
• Vehicle Control Units
• Home Fast Chargers

The company operates a state-of-the-art facility in Jigani, Bengaluru, with an annual production capacity of 100,000+ units. This facility plays a crucial role in Oben Electric’s goal to scale production as demand grows.

Advanced Battery Technology

All Oben Electric motorcycles feature LFP (Lithium Iron Phosphate) battery technology, which is the first of its kind in India’s electric two-wheeler market. This technology ensures better durability and resilience, even in extreme weather conditions.

Vinod Rustagi, Group CEO & Managing Director of Karimjee Group stated, 

“India being the world’s largest motorcycle market with ~12Mn units sold last year, we think it’s inevitable for ICE motorcycles to transition into electric. Among a handful of EV companies working on motorcycle EV transition, we found Oben Electric best suited to disrupt & lead this transition.”

Conclusion

Oben Electric Secures INR 50 Crore in Series A Funding is a significant milestone in the company’s journey toward revolutionizing the Indian electric vehicle market. With plans to expand its product offerings, grow its distribution network, and enter new markets, Oben Electric is poised to make a lasting impact in the EV industry.

Read more: No More EV Subsidies Are Needed In India: Piyush Goyal

FAQs