Oben Electric, a Bengaluru-based electric motorcycle manufacturer, has raised ₹85 crore in its pre-Series B funding round from multiple renowned Indian American Family Offices, including Raj K Soin, Musa Dakri, Ramesh Bhutada and other existing investors.
The fresh funds raised will be used to scale its distribution network, increase brand awareness, new product developments and product launches.
With this round, Oben Electric’s total funding to date rises to ₹285 crore. Earlier this year, in January 2025, Oben Electric raised ₹50 crore in a Series A funding round, and in June 2025, it raised an additional ₹50 crore in an extended Series A round, taking its total Series A funding to ₹100 crore.
Founded in 2020 by Madhumita Agrawal, Sagar Thakkar, and Dinkar Agrawal, Oben Electric is an R&D-driven, vertically integrated company that designs & manufactures its own electric motorcycles and key components like batteries, motors, vehicle control units and home fast chargers.
Oben Electric’s competitive advantage lies in its vertically integrated manufacturing ecosystem, covering in-house design, development , and manufacturing end-to-end of LFP batteries, motors, chargers, and TFT displays from its 3.5-acre integrated manufacturing facility in Bengaluru.
In 2025, Oben Electric also expanded its sales channels to digital commerce platforms, making its motorcycles available on Amazon and Flipkart. The move has broadened customer accessibility and contributed to sustained demand across both retail and digital touchpoints. Oben Electric currently operates 85+ showrooms across 70+ cities in 18+ states.
Oben Electric has demonstrated10X revenue growth in the past 12 months. The company is set to achieve ₹100 crores revenue in FY26 and COGS break even by March 2026.
The company targets EBITDA break-even by 2027 as the company scales to 150 exclusive showrooms & service centres by March 2026 and 500 showrooms in the next 2 years.
Earlier this year, Oben Electric introduced the Rorr EZ Sigma, its city commuter motorcycle designed for enhanced everyday usability. With features like reverse mode, refined ergonomics, and a connected colour TFT display with smart features, the model has received overwhelmingly positive feedback from customers for its comfort, ease of use, and smart functionality.
Madhumita Agrawal, Founder & CEO, Oben Electric, said, “This fundraise is a strong validation of investor confidence in Oben Electric’s operating momentum, capital discipline, and growth roadmap. This new funding gives us clear visibility and confidence to achieve COGS break-even by March 2026, an important milestone for any EV OEM operating at scale. As we expand our distribution footprint, backed by growing customer validation and deepening dealer interest, we are well poised to progress toward EBITDA break-even in 2027. We remain focused on scaling sustainably while building a category-defining electric motorcycle company from India.”
Raj K Soin, Chairman and CEO, Soin International and Ex-Founder of MTC Technologies (USA), said, “When I met Madhumita and Dinkar I was very favourably impressed by their plans and focus towards building an independent e motorbike company. When I visited the manufacturing facility I was much impressed by their operation and extreme focus towards quality and processes. It was combination of these factors and large unfilled market for e-bikes that led me to invest in their company.”
Musa Dakri, Founder & Chairman, Wallis Bank (USA), said, “The electric two-wheeler segment is expanding significantly. Awareness around pollution, climate change, and sustainable mobility provide continued push for EV products. We believe Oben Electric is positioned well to grow- quietly, powerfully, sustainably.”
Ramesh Bhutada, Founder of Star Pipe Products (USA), said, “We decided to invest because Oben is managed by passionate and capable leadership who believes in offering a first-ever eco-friendly EV motorcycle to common man in India. We see tremendous potential for this venture.”
