Oben Electric raises Rs 50-cr; total Series A funding hits Rs 100 cr

Mumbai, Jun 18 (PTI) Electric motorcycle maker Oben Electric on Wednesday said it has raised an additional Rs 50-crore in an extended Series A funding round.

With the latest round, the company said it has raised a total of Rs 100 crore in Series A funding.

This latest capital infusion will help the company in continuing with growth and accelerate expansion of distribution network to over 150 showrooms across over 50 cities by FY26, besides fast-tracking product development of the company's new 'O100' platform for an under Rs 1-lakh, the company said.

It also said that part of the funds will also be deployed for scaling up the Bengaluru manufacturing facility and strengthening the after-sales service network across markets.

The latest round saw participation from new and existing investors including Helios Holdings, Sharda family office, Kay family and other new and existing investors, it said.

"We're expanding not just our retail footprint but also our innovation roadmap with platforms like O100 that aim to democratize electric motorcycles for the mass market," said Madhumita Agrawal, Founder and CEO of Oben Electric.

Backed by full-vertical integration and a resilient supply chain, this funding prepares the company for a new phase of scale, impact, and growth opportunities, she added.

Oben Electric has so far seen a total capital infusion of Rs 200 crore, it added.

Following the initial Series A fundraise, Oben Electric said it rapidly scaled with 37 retail outlets across 26 cities in 13 states, entering key markets like Punjab, Gujarat, MP, UP, Telangana, Chhattisgarh, and Odisha. PTI IAS DRR