Oben Electric Closes $12 Million Series A Round – EV Boom with Sub -$1200 Motorcycle

Homegrown electric motorcycle startup Oben Electric has supercharged its growth plans with the successful closure of a ₹100 crore ($12 million approx) Series A funding round, including an extended ₹50 crore ($ 6 million approx.) infusion in May 2025. The funding round saw participation from both existing and new investors, such as Helios Holdings, the Sharda family office, the Kay family, and other strategic backers, reaffirming investor confidence in Oben’s R&D-first approach and market traction.

This fresh capital injection marks a pivotal moment for Oben Electric, whose total funding now stands at ₹200 crore ($24 million, approximately). The Bengaluru-based company is poised to leverage this funding to expand to 150+ showrooms across 50+ Indian cities by FY26, accelerate the development of its affordable ‘O100’ EV platform, and ramp up production at its fully integrated manufacturing facility in Jigani.

Why Investors Are Betting Big

According to Sandesh from the Sharda family office, the decision to back Oben Electric was rooted in the company’s robust tech foundation and market timing. “They’re not just building a motorcycle—they’re creating an entire EV ecosystem,” he said. “Oben’s full-stack vertical integration, from LFP batteries to vehicle control units, is unmatched in India’s EV landscape.”

Building the Mass Market EV Motorcycle

The crown jewel of Oben Electric’s next phase is the upcoming ‘O100’ electric motorcycle, a high-performance commuter priced under ₹1 lakh. Designed to deliver both performance and affordability, the O100 platform aims to bring electric two-wheelers into the mainstream, especially for urban daily commuters.

This is in addition to Oben’s current flagship models, including the Oben Rorr EZ, priced at ₹99,999, and the Oben Rorr, known for its speed (0–40 km/h in 3.3 seconds), top speed of 95 km/h, and impressive 175 km range. These are powered by India’s first LFP (Lithium Iron Phosphate) battery technology in two-wheelers, offering greater safety and performance under extreme weather conditions.

(L-R) Sagar Thakkar, Co-founder & CPO at Oben Electric, Madhumita Agrawal, Founder & CEO at Oben EV, Dinkar Agrawal, Founder, CTO & COO at Oben Electric

From 37 Showrooms to 150+ by FY26

Since the first ₹50 crore raised in January 2025, Oben has rapidly scaled to 37 retail outlets across 26 cities in 13 states, penetrating key markets such as Punjab, Gujarat, MP, Telangana, and UP. The company’s after-sales service network is also expanding, backed by a strong supply chain of 150+ Indian vendors and partnerships with 10+ ecosystem providers for insurance, financing, and roadside support.

EV startup Oben raises Rs 40-cr in extended pre-Series A round

Next Stop: Global Expansion

Founder & CEO Madhumita Agrawal says this funding is just the beginning. “With the extended Series A, we’re not only scaling retail and manufacturing but pushing ahead with the ‘O100’ to democratize EV access,” she said. “Our goal is to build the first global electric motorcycle brand designed and made in India.”

To support international ambitions, Oben Electric is planning a $30 million Series B round later this year, further cementing its mission to make “Designed in India for the World” a global EV Motorcycle reality.