Electric motorcycle maker Oben Electric raises $10.2 Mn in pre-Series B round

Bengaluru-based electric motorcycle maker Oben Electric has raised Rs 85 crore (around $10.2 million) in a pre-Series B round from Indian-American family offices including Raj K Soin, Musa Dakri, and Ramesh Bhutada, along with existing investors.

Following its initial $6 million Series A in January, Oben Electric had raised an additional Rs 50 crore ($6 million) in an extended Series A round, taking its total Series A funding to Rs 100 crore ($12 million) in June this year. 

With the current round, Oben Electric’s total funding stands at Rs 285 crore ($34 million). The company said it is also in discussions to raise a Series B round.

The proceeds will be used to expand Oben Electric’s retail network, increase brand reach, and support upcoming product launches. The startup plans to scale its footprint to 150 showrooms and service centres by March 2026, and to 500 outlets over the next two years. It currently operates over 85 showrooms across 70 cities in 18 states.

Oben Electric is targeting Rs 100 crore in revenue in FY26 and expects to achieve cost-of-goods-sold (COGS) break-even by March 2026. The brand is aiming for EBITDA break-even by 2027 as volumes scale.

Founded in 2020, Oben Electric focuses on vertically integrated manufacturing. The company designs and manufactures key EV components in-house, including LFP battery packs, motors, chargers, and vehicle electronics, from its Bengaluru facility, which has an annual capacity of 1 lakh units.

Earlier this year, Oben launched the Rorr EZ Sigma, a city-focused electric motorcycle with features such as reverse mode and a connected TFT display. The company has also expanded online sales through platforms like Amazon and Flipkart.

The company competes with startups like Tork Motors and established players entering the electric motorcycle space, but differentiates through full vertical integration, over 25 patents, and R&D-led design.