Oben Electric Raises ₹100 Crore In Series A Funding Round

Bengaluru-based electric bike startup Oben Electric successfully raised ₹100 crore in its recently concluded Series A funding. Through two separate investments this year, Oben Electric first attracted ₹50 crore in January, after which it secured an additional ₹50 crore in May's extended round. The latest funding saw backing from Helios Holdings, the Sharda family office, the Kay family, and several returning investors. This brings Oben's total capital raised to ₹200 crore since inception.

Since January's funding, Oben has rapidly expanded from 0 to 37 retail locations across 26 cities in 13 states, penetrating key markets including Punjab, Gujarat, and Uttar Pradesh. The fresh capital will drive up Oben’s retail numbers to 150+ showrooms across 50 cities by FY26. Resources will also support development of the O100 motorcycle platform which will underpin bikes costing sub-₹1 lakh, and manufacturing scale-up.

Looking ahead, Oben plans a $30 million (approx ₹260 crores) Series B round in 2025 to support international expansion as well. That will be purported by its increase in production capacity. Oben Electric will join the likes of Ultraviolette Automotive and Ather Electric with its foreign expansion. While the former is now present in 10 European countries, Ather exports to Sri Lanka.