Electric Bike Maker Oben Electric Secures $10.2 Million Funding
- Oben Electric raises Rs 85 crore ($10.2 million) in a pre-Series B round, backed by Indian-American family offices and existing investors.
- The Bengaluru-based EV startup plans aggressive retail expansion, targeting 150 showrooms by March 2026 and 500 outlets over the next two years.
- Vertically integrated since 2020, Oben Electric targets Rs 100 crore FY26 revenue, with COGS break-even by March 2026 and EBITDA break-even in 2027.
Oben Electric is a Bengaluru-based electric motorcycle maker that has raised Rs 85 crore-around $10.2 million-in a pre-Series B round from Indian-American family offices, including that of Raj K Soin, Musa Dakri, and Ramesh Bhutada, apart from existing investors.
Oben Electric had raised an additional Rs 50 crore (US$ 6 million) in an extended Series A round in June this year, after its initial $6 million Series A in January, taking its total Series A funding to Rs 100 crore ($12 million).
With the current round, Oben Electric has raised total funding of Rs 285 crore ($34 million). The company also said it is in discussions to raise a Series B round.
The proceeds will be utilised to expand the retail network of Oben Electric, increase brand reach, and support upcoming product launches. The startup aims to scale its footprint to 150 showrooms and service centres by March 2026 and to 500 outlets over the next two years. Presently, the firm operates more than 85 showrooms across 70 cities in 18 states.
Oben Electric is aiming for Rs 100 crore revenue in FY26 and targets COGS break-even by March 2026. The EBITDA break-even is eyed for 2027 as volumes scale.
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Oben Electric is a vertically integrated manufacturer established in the year 2020. It develops and manufactures key EV components in-house, such as LFP battery packs, motors, chargers, and vehicle electronics, from its facility in Bengaluru, which has an annual capacity of 1 lakh units.
Oben has launched the Rorr EZ Sigma, an electric motorcycle focused on the city with features like reverse mode and a connected TFT display. The company said it has widened online sales through Amazon, Flipkart, and its own website.
The company is competing against startups in the likes of Tork Motors and several established players pivoting into electric motorcycles, but it differentiates by full vertical integration, with more than 25 patents and R&D-led design.
