Bengaluru-based electric motorcycle manufacturer Oben Electric is planning to raise between ₹428 crore and ₹513 crore in a Series B funding round in 2025. The funds will support the company’s expansion plans, including increasing its retail presence and enhancing its manufacturing capabilities.
Founded in 2020, Oben Electric operates a 3.5-acre manufacturing facility in Bengaluru with an annual production capacity of 1 lakh units. The facility currently produces two electric motorcycle models, the Rorr and the Rorr EZ, priced between ₹89,999 and ₹1,49,999. In FY25, the company sold 1,500 units and aims to increase sales to 12,000 units by FY26.
The company has invested approximately ₹100 crore in research and development to date. With a current retail footprint of over 30 stores, Oben Electric plans to expand to 150 stores across India by FY26. To support this growth, the company is considering establishing a second manufacturing facility to enhance its supply chain and logistics capabilities.
In January 2025, Oben Electric raised ₹50 crore in a Series A funding round, bringing its total equity capital raised to ₹150 crore. The round saw participation from investors such as Ambis Holding US, Kuberan Ventures, Karimjee Group from Africa, Mission Vertical (a US-based VC), the Sanjeev Saraf (Polyplex) Family Office, and Pravek Kalp Family Office.
Oben Electric is also focusing on achieving EBITDA positivity before considering a pre-IPO round in the coming years. The company is shifting its funding strategy from venture capital to private equity, emphasizing a sustainable business model and profitability.
With 99% localization, Oben Electric manufactures its own lithium-iron-phosphate (LFP) batteries and motors. The company’s motors, ranging from 6 kilowatts to 12 kilowatts, are designed to power both two-wheelers and three-wheelers, positioning Oben Electric to potentially supply components to other manufacturers. This vertical integration could evolve into standalone business opportunities in the future.
