Bengaluru-based electric motorcycle startup Oben Electric has secured an additional ₹50 crore (~$6 million) in an extended Series A round, taking its total Series A funding to ₹100 crore ($12 million) and overall funding to ₹200 crore ($24 million).
The latest fundraise, completed in May 2025, saw participation from Helios Holdings, Sharda family office, the Kay family, and existing investors, signaling strong continued investor confidence in the company’s vision and growth.
What’s Next: Scaling, Innovation & Retail Expansion
Oben Electric plans to deploy the newly raised capital to:
- Expand to 150+ showrooms across 50 cities by FY26
- Scale production at its Jigani, Bengaluru plant (capacity: 100,000 units/year)
- Accelerate R&D through its newly launched ‘O100’ platform, focused on developing affordable electric motorcycles under ₹1 lakh
“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, Co-founder and CEO of Oben Electric.
Vertically Integrated with a Focus on Affordability
Founded in 2020 by Madhumita Agrawal, Sagar Thakkar, and Dinkar Agrawal, Oben Electric sets itself apart by designing and manufacturing nearly all key EV components in-house, including:
- LFP batteries
- Electric motors
- Vehicle control units (VCUs)
- Home fast chargers
This full-stack integration allows the company to optimize costs, improve performance, and retain control over supply chain quality, which is vital in the price-sensitive Indian EV market.
Rapid Growth Since Initial Series A
Following its initial $6 million Series A round in January 2025, Oben Electric has expanded rapidly, now operating:
- 37 retail outlets
- Across 26 cities
- In 13 states
Its current manufacturing plant in Jigani, Bengaluru, is supported by a robust vendor network of over 150 partners.
R&D and IP-Led Differentiation
Oben Electric has secured over 25 patents and continues to drive innovation through R&D. The ‘O100’ platform aims to penetrate the budget electric motorcycle market, a segment that remains underdeveloped in India despite massive potential for volume.
By focusing on motorcycles under ₹1 lakh, Oben seeks to bridge the gap between performance, affordability, and reliability, a combination rarely offered in India’s current electric two-wheeler landscape.
Competitive Landscape
Oben Electric is navigating a market filled with homegrown competitors like Tork Motors and legacy automakers entering the EV segment. Its edge lies in:
- Full in-house component design
- R&D-first approach
- Scalability of operations
- Pricing strategy aimed at the mass market
Final Thoughts
With this new capital infusion and a clear focus on affordable electric mobility, Oben Electric is positioning itself to become a dominant player in India’s electric two-wheeler market. Its commitment to vertical integration, IP creation, and sub-₹1 lakh offerings could reshape consumer expectations in the EV motorcycle category.
As India’s EV ecosystem continues to mature, startups like Oben Electric may lead the charge in democratizing electric mobility across tier-1 to tier-3 cities.