Oben Electric raises Rs 85 Cr in pre-Series B round to expand retail, product pipeline
The round included participation from Indian American family offices such as Raj K Soin, Musa Dakri and Ramesh Bhutada, along with existing investors.
Oben Electric designs, develops, and manufactures high-performance electric motorcycles and critical EV components in India.
The Bengaluru-based company said the capital will support national expansion of showrooms and service centres, as well as investments in product development.
With the latest round, Oben Electric’s total funding to date has reached Rs 285 crore, and the company said it is in discussions to raise a Series B round.
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The company said it is targeting Rs 100 crore in revenue in the current fiscal year ending March 2026 and aims to reach cost-of-goods-sold break-even in the same period, with EBITDA break-even expected in 2027. Oben Electric currently operates more than 85 showrooms across over 70 cities, and plans to scale to 150 outlets by March 2026.
“This fundraise is a strong validation of investor confidence in Oben Electric’s operating momentum, capital discipline, and growth roadmap,” said Madhumita Agrawal, founder and chief executive officer of Oben Electric. “This new funding gives us clear visibility and confidence to achieve COGS break-even by March 2026, an important milestone for any EV OEM operating at scale.”
Raj K Soin, chairman and chief executive officer of Soin International, said his decision to invest followed visits to the company and its factory. “It was a combination of these factors and a large unfilled market for e-bikes that led me to invest in their company,”
“When I met Madhumita and Dinkar, I was very favourably impressed by their plans and focus towards building an independent e-motorbike company. When I visited the manufacturing facility, I was very impressed by their operation and extreme focus towards quality and processes. It was a combination of these factors and a large unfilled market for e-bikes that led me to invest in their company,” he said.
Edited by Jyoti Narayan
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