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Electric motorcycle manufacturer Oben Electric has raised an additional Rs 50 crore ($6 million) in an extended Series A round, taking its total Series A funding to Rs 100 crore ($12 million) and overall capital raised to Rs 200 crore ($24 million).
The latest fundraise in May 2025 saw participation from Helios Holdings, Sharda family office, the Kay family, and existing backers.
The proceeds will support Oben’s plans to expand to over 150 showrooms across 50 cities by FY26, scale up production at its existing Bengaluru facility, and deepen product development through its new ‘O100’ platform focused on electric motorcycles priced under Rs 1 lakh.
Co-founded in 2020 by Madhumita Agrawal, Sagar Thakkar, and Dinkar Agrawal, Oben Electric designs and manufactures electric motorcycles and key components like batteries, motors, vehicle control units, and home fast chargers.
“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.
Following its initial $6 million Series A in January, Oben Electric claims to have expanded rapidly with 37 retail outlets across 26 cities in 13 states. The company develops and manufactures electric motorcycles and key components in-house, including LFP batteries, motors, and vehicle control units.
Its manufacturing plant in Jigani, Bengaluru has a capacity of 100,000 units per year, supported by a supply chain of over 150 vendors.
The company competes with startups like Tork Motors and established players entering the electric motorcycle space, but differentiates through full vertical integration, over 25 patents, and R&D-led design.
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