Oben Electric raises INR 85 crores in Pre-Series B Round

Oben Electric, an electric motorcycle manufacturer based in India, announced that it has raised INR 85 Crores in a Pre-Series B funding round. Investors in this round included Indian American Family Offices such as Raj K Soin, Musa Dakri, Ramesh Bhutada, along with existing investors. With this Pre-Series B funding, Oben Electric’s total funding to date is INR 285 Crores. The company is also in discussions to close its Series B round.

The company plans to use the funding to expand its distribution network and support upcoming product launches. Oben Electric is on track to achieve INR 100 Crores revenue in FY26 and expects COGS break-even by March 2026. The company targets EBITDA break-even by 2027 as it scales its retail network to 150 showrooms and service centers by March 2026 and 500 showrooms within two years.

Oben Electric currently operates 85 showrooms across more than 70 cities in 18 states. In 2025, the company also expanded its sales channels to online platforms, including Amazon and Flipkart, to improve customer access. Oben Electric’s manufacturing operations cover in-house design and production of critical EV components, including LFP batteries, motors, chargers, and TFT displays, at its 3.5-acre facility in Bengaluru.

Commenting on the fundraise, Madhumita Agrawal, Founder & CEO, Oben Electric, said, “This fundraise is a strong validation of investor confidence in Oben Electric’s operating momentum, capital discipline, and growth roadmap. 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. As we expand our distribution footprint, backed by growing customer validation and deepening dealer interest, we are well poised to progress toward EBITDA break-even in 2027. We remain focused on scaling sustainably while building a category-defining electric motorcycle company from India.”

Raj K Soin, Chairman and CEO, Soin International and Ex-Founder of MTC Technologies (USA): “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 much impressed by their operation and extreme focus towards quality and processes. It was combination of these factors and large unfilled market for e bikes that led me to invest in their company.”

Musa Dakri, Founder & Chairman, Wallis Bank (USA): “The electric two-wheeler segment is expanding significantly.  Awareness around pollution, climate change, and sustainable mobility provide continued push for EV products. We believe Oben Electric is positioned well to grow- quietly, powerfully, sustainably.”

Ramesh Bhutada, Founder of Star Pipe Products (USA): “We decided to invest because Oben is managed by passionate and capable leadership who believes in offering a first ever ecofriendly EV motorcycle to common man in India. We see tremendous potential for this venture.”

Earlier in 2025, Oben Electric introduced the Rorr EZ Sigma city commuter motorcycle, featuring a reverse mode, updated ergonomics, and a connected colour TFT display.

Also read: Oben Electric raises INR 50 crore in extended Series A: Total now INR 100 crore