Oben Electric raises Rs 85 cr in pre-Series B round

Mumbai, Dec 18 (PTI) Electric motorcycle manufacturer Oben Electric on Thursday said it has raised Rs 85 crore in a pre-Series B round for its next phase of growth.

The round saw participation from multiple Indian American Family Offices, including Raj K Soin, Musa Dakri, Ramesh Bhutada and other existing investors, it said.

With this, Oben Electric said its total funding now stands at Rs 285 crore, and added that it is in active conversations to close its Series B.

The funding reflects strong investor confidence in Oben Electric's vision, engineering depth, market traction & customer trust, which is demonstrated by its 10X revenue growth in the past 12 months.

The new capital will drive Oben Electric's next phase of growth by scaling its distribution network and increasing brand awareness, it said, adding that simultaneously, the company will also accelerate new product developments and product launches.

The investment comes at a time the company is set to achieve Rs 100 crore revenue in FY26, it said.

"This fundraise is a strong validation of investor confidence in Oben Electric's operating momentum, capital discipline, and growth roadmap. This new funding gives us clear visibility and confidence to achieve COGS (cost of goods sold) break-even by March 2026, an important milestone for any EV OEM operating at scale," Oben Electric Founder and CEO Madhumita Agrawal said.

The company said it targets EBITDA break-even by 2027 as it scales to 150 exclusive showrooms and service centres by March next year and 500 showrooms in the next two years, driven by strong dealership interest.

Currently, Oben Electric operates over 85 showrooms across 70+ cities in 18+ states, as per the company.

The company added that it is focussed on further optimising its bill of materials through design improvements, enhancing production efficiency and scale manufacturing for long-term sustainability. PTI IAS TRB