India: Oben Electric raises €5.6 million in funding
Investors like Ambis Holding US, Kuberan Ventures, Tanzania-based Karimjee Group, American venture capital firm Mission Vertical, Sanjeev Saraf (Polyplex) Family Office, and Pravek Kalp Family Office participated in Oben Electric’s Series A funding round. Following this fresh investment round, the Bengaluru (Karnataka)-based EV startup holds a total equity capital of 1.5 billion Indian rupees (approximately 16.8 million euros).
Oben Electric wants to grow its presence across India significantly with the new investment, expanding its reach from currently ten cities to 50 by FY2026 (April 2025-March 2026). The company aims to increase its number of showrooms approximately fivefold from currently more than 20 to over 100 by then.
Commenting on the new development, Madhumita Agrawal, Founder and CEO, Oben Electric, suggested the company may even step into international markets using the new funds. “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 said. Speaking to The Times of India, Agrawal revealed Oben Electric is eyeing emerging markets like Nepal, Sri Lanka, African nations, and Latin American countries for its overseas expansion.
In addition to growing its retail footprint, Oben Electric plans to introduce new models following the fresh dose of investment. Agrawal told TOI that the company will launch a new mass-market electric motorcycle comparable to affordable 100cc petrol models priced below the Rorr EZ, its current entry-level model, which it offers for a base price of 89,999 Indian rupees (approximately 1,000 euros).
Oben Electric offers the Rorr EZ with 2.6 kWh, 3.4 kWh, and 4.4 kWh LFP battery pack options, with a range of 110 km, 140 km, and 175 km, respectively. It uses a 7.5 kW motor across the lineup, allowing the electric motorcycle to hit 0-40 kph in 3.3 seconds and achieve a top speed of 95 kph.
For customers who demand better performance and more range from their electric motorcycle, Oben Electric offers a model called ‘Rorr’ as well, for 149,999 Indian rupees (approximately 1,750 euros). The Rorr features an 8 kW motor that lets it accelerate from 0 to 40 kph in 3.0 seconds and reach a top speed of 100 kph. A 4.4 kWh LFP battery pack powers this motor and gives the electric motorcycle a range of 187 km.
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