EV motorcycle manufacturer Oben Electric has raised an additional ₹50 crore in May 2025 through an extended Series A funding round.
The extended Series A round follows the Series A round of ₹50 crore raised in January 2025, bringing the total Series A funding to ₹100 crore and the overall funding raised to ₹200 crore. The round saw participation from new and existing investors, including Helios Holdings, Sharda family office, Kay family and other new & existing investors.
The funding will be deployed to accelerate expansion to over 150 showrooms across 50+ cities by FY26, fast-track product development of the company’s new ‘O100’ platform for affordable electric motorcycles under ₹1 lakh, scale up manufacturing within Bangalore’s facility, and strengthen its after-sales service network across markets.
Following the initial Series A raise, Oben Electric rapidly expanded with 37 retail outlets across 26 cities in 13 states, entering key markets like Punjab, Gujarat, Madhya Pradesh, Telangana, Uttar Pradesh, Chhattisgarh, and Odisha. This underscored strong post-funding execution and demand.
Madhumita Agrawal, Founder & CEO of Oben Electric, said, “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. We’re expanding not just our retail footprint but also our innovation roadmap with platforms like O100 that aim to democratize electric motorcycles for the mass market. Backed by full vertical integration and a resilient supply chain, this funding prepares us for a new phase of scale, impact, and growth opportunities.”
Looking ahead, Oben Electric plans to raise $30 million in Series B in 2025 to support international expansion and further scale-up of production and product lines.
Sandesh from the Sharda family office commented: “Oben Electric had the right technology, product market fit and growth indicators. They are operating in an untapped large market opportunity with multi-fold revenue growth QoQ, the feedback of the electric motorcycle was great and their vertical integration of critical EV components, including LFP battery, motor and vehicle control unit is a key differentiator. We were also impressed by the maturity of the founders which is required to build such a large & complex business and believe that they would be successful in building the first global electric motorcycle brand from India.”