Indian electric two-wheeler startup Oben Electric has successfully raised ₹500 million (approximately €5.6 million) in its Series A funding round. The company intends to use the new capital to broaden its vehicle offerings and expand its distribution network across India.
Key investors in this funding round include Ambis Holding US, Kuberan Ventures, Tanzania’s Karimjee Group, U.S.-based venture capital firm Mission Vertical, as well as family offices like Sanjeev Saraf (Polyplex) and Pravek Kalp. With this fresh capital, Oben Electric’s total equity capital now stands at ₹1.5 billion (approximately €16.8 million).
Oben Electric plans to expand its operations significantly in India, aiming to increase its presence from 10 cities to 50 by FY2026 (April 2025-March 2026). The company also intends to scale up its showroom count from over 20 to more than 100 locations during this period. Madhumita Agrawal, Founder and CEO of Oben Electric, highlighted that the company could also look to enter international markets with the new investment. “This funding will fuel our next phase of growth as we expand across India and set our sights on entering strategic international markets, ultimately positioning Oben Electric among the top global players in the electric mobility space,” Agrawal commented. She further revealed plans to target emerging markets such as Nepal, Sri Lanka, African nations, and Latin American countries.
Additionally, Oben Electric intends to launch new electric motorcycle models, including a more affordable option targeted at mass-market customers. The new electric motorcycle will be priced below the company’s current entry-level model, the Rorr EZ, which is available for ₹89,999 (approximately €1,000). The Rorr EZ is offered with battery options of 2.6 kWh, 3.4 kWh, and 4.4 kWh LFP batteries, delivering ranges of 110 km, 140 km, and 175 km, respectively. The motorcycle is equipped with a 7.5 kW motor, which enables acceleration from 0-40 km/h in 3.3 seconds and a top speed of 95 km/h.
For those seeking better performance and longer range, Oben Electric also offers the Rorr model priced at ₹149,999 (approximately €1,750). The Rorr features an 8 kW motor that can accelerate from 0-40 km/h in just 3.0 seconds and reach a top speed of 100 km/h. Its 4.4 kWh LFP battery provides a range of 187 km.
