Startup: Oben Electric

Oben Electric, one of India’s most innovative & fastest-growing homegrown electric motorcycle manufacturers. It is an R&D-driven organization designing, developing, and manufacturing electric motorcycles in-house along with critical EV components.

Established Year: 2020

Sector:  E-mobility

Funding Round: Series A

Funding News: Homegrown E-motorcycle manufacturer 'Oben Electric' wins 50 crore in Series A

Investors: Ambis Holding US, Kuberan Ventures, Karimjee Group from Africa, Mission Vertical-US Based VC, Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office.

With this funding, the company aims to expand its existing distribution network to 100+ showrooms along with Oben Care service centers across 50 cities in India by FY26, solidifying its leadership in the Indian Electric motorcycle market.

Commenting on the fundraise, Madhumita Agrawal, Founder & CEO, Oben Electric, commented, “We are thrilled to close this Series A funding round, marking a pivotal moment in our journey to build a global EV powerhouse. What differentiates Oben Electric is our unwavering commitment to innovation and independence. We’ve built this company from the ground up, without reliance on strategic investors or corporate backing, empowering us to remain agile and focus on what truly matters - delivering high-quality, high-performance EVs that address the unique needs of Indian consumers.”

Vinod Rustagi, Group CEO & Managing Director, Karimjee Group, Africa commented “India being world’s largest motorcycle market with ~12Mn units sold last year, giving them 66% market share of all 2-wheeler sales & only 1% of them being electric, we think it’s inevitable of ICE motorcycles to transition into electric.”

Jeff Mamera, Founder & General Partner, Mission Vertical Capital said "We are very excited about the large and quickly growing total addressable market for Oben's e-motorcycles. Our deep dive into the industry convinced us that this management team has built an excellent intellectual property portfolio, efficient manufacturing and brought in strong talent to execute their go-to-market strategy."