Oben Electric Secures Funding to Boost Electric Motorcycle Market

Bengaluru-based electric motorcycle manufacturer Oben Electric has successfully raised Rs 85 crore (approximately $10.2 million) in a pre-Series B funding round. Investors include prominent Indian-American family offices such as Raj K Soin, Musa Dakri, and Ramesh Bhutada, in addition to current investors. This follows their initial funding of $6 million in a Series A round in January and an additional Rs 50 crore ($6 million) in an extended Series A round, bringing the total Series A funding to Rs 100 crore ($12 million) by June this year. With this latest round, the total funding for Oben Electric reaches Rs 285 crore ($34 million). The company is also in the process of discussions for a Series B funding round.

Strategic Use of Proceeds

The funding will enhance Oben Electric’s retail network, expand brand visibility, and support upcoming launches of new products. The startup aims to scale to 150 showrooms and service centres by March 2026, with a target of reaching 500 outlets over the following two years. Currently, Oben Electric operates over 85 showrooms across 70 cities in 18 states.

Financial Goals

Oben Electric is aiming for Rs 100 crore in revenue for the financial year 2026 and anticipates reaching cost-of-goods-sold (COGS) break-even by March 2026. The brand also has aspirations for EBITDA break-even by 2027 as they continue to scale their production.

Company Background

Established in 2020, Oben Electric focuses on a vertically integrated manufacturing approach. The company designs and produces essential electric vehicle (EV) components in-house, including LFP battery packs, motors, chargers, and vehicle electronics, all from their Bengaluru facility, which has an annual production capacity of 1 lakh units.

New Product Launches

Earlier this year, Oben Electric introduced the Rorr EZ Sigma, a city-oriented electric motorcycle equipped with features such as reverse mode and a connected TFT display. In addition, the company has increased its online sales through platforms such as Amazon and Flipkart.

Market Position

Competing against startups like Tork Motors and established brands entering the electric motorcycle market, Oben Electric differentiates itself with complete vertical integration, over 25 patents, and a strong focus on research and development-led design.