Oben Electric, the electric motorcycle manufacturing startup based out of India, has raised ₹50 crore in its Series A funding round. Ambis Holding US led the funding round with participation from other investors such as Kuberan Ventures, Karimjee Group, and Mission Vertical, among others, and existing investors. With this investment, Oben Electric has raised a total of ₹150 crore since inception.

PC: MarcaMoney
Plans for Expansion
The startup intends to employ the new funds to hugely expand its distribution network across India. Today, Oben Electric runs 20 retail outlets, and the company’s vision is to take it to 100 by the end of 2025. The company will be enhancing its service network for smooth customer support, which is important to build trust and reliability in the electric vehicle sector.
According to its Founder and Chief Executive Officer Madhumita Agrawal, Oben Electric is currently selling its products across the country from key markets like Delhi, Pune, Jaipur, Bengaluru, and Kerala. The new capital will help further expand Oben Electric’s access to all key cities and townships in the country.
Product Lineup
Oben Electric focuses more on the commuter segment of the two-wheeler market, which is a larger part of the total market. The company has two electric motorcycles in its product portfolio: Rorr, a premium commuter motorcycle equivalent to a 150cc petrol bike, and the newly launched Rorr EZ. Focus on the commuter segment is consistent with the increased shift towards electric vehicles as consumers look for a more sustainable and cost-effective way of transportation.
Market Potential
The electric vehicle market in India is rapidly picking up due to government initiatives, fuel prices shooting through the roof, and raising environmental awareness amongst consumers. Such is the pace that Oben Electric is best positioned to catch this wave for those looking to make a shift to greener alternatives.
Future Goals
Oben Electric is going to use the funds to upgrade its research and development. This way, it can continue to stay competitive with the best in terms of technology and performance. The company is also scouting opportunities to expand its international markets, thereby expanding its footprint in the global electric mobility space.
In conclusion, Oben Electric’s successful series A funding would be a critical step towards creating a strong business in the electric motorcycle segment. With aggressive growth plans and intense focus on customers, the firm is well-prepared to gain significant traction within the Indian market for electric vehicles.