Oben Electric, an R&D-driven homegrown electric motorcycle manufacturer, has raised an additional ₹50 crore in 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 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 fresh funds raised will be used to expand over 150 showrooms across 50+ cities by FY26, fast-tracking product development of the company’s new ‘O100’ platform for affordable electric motorcycles under ₹1 lakh, and scaling up its manufacturing within the Bangalore facility and strengthening its after-sales service network across markets.
Following its initial $6 million Series A in January, Oben Electric claims to have scaled with 37 retail outlets across 26 cities in 13 states, entering key markets like Punjab, Gujarat, Madhya Pradesh, Telangana, Uttar Pradesh, Chhattisgarh, and Odisha.
Founded in 2020 by Madhumita Agrawal, Sagar Thakkar, and Dinkar Agrawal, Oben Electric is an R&D-driven electric motorcycle organisation that specializes in designing, developing, and manufacturing performance electric motorcycles and their critical EV components, including batteries, motors, vehicle control units, and home fast chargers in-house in India.
Oben operates a fully compliant, 100,000-units-per-year manufacturing facility in Jigani, Bengaluru, supported by a strong domestic supply chain of 150+ vendors. It claims that its e-motorcycles undergo testing across 200+ performance parameters and are supported by 68,000+ public charging stations and 10+ ecosystem partners for insurance, financing, and roadside assistance.
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.
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 democratise 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.”
Sandesh Sharda from Sharda Family Office said, “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.”
