Electric motorcycle manufacturer Oben Electric has closed its Series A funding round, raising ₹50 crore. The funding will be used to expand its existing distribution network to over 100 showrooms and expand its service centres across 50 cities in India by FY26.

Additionally, the company plans to expand its offerings and distribution network, including exports, for which it plans to raise $50 million in Series B by mid-2025, it said in a release.

With the latest funding, the company’s total equity raised stands at Rs 150 crore. The funding round saw participation from Ambis Holding US, Kuberan Ventures, Karimjee Group from Africa, Mission Vertical-US Based VC, Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office, and other existing investors.

Commenting on the fundraise, Madhumita Agrawal, Founder & CEO, said, Oben Electric, commented, “This funding will fuel our next phase of growth as we expand across India and set our sights on entering strategic international market.” 

Founded in 2020, Oben Electric manufactures its motorcycles and components in Jigani, Bengaluru, with a production capacity exceeding 100,000 units. The company works with over 150 vendors and is supported by a network of more than 75,000 third-party charging stations across over 1,600 cities in India. Additionally, Oben Electric partners with over 10 ecosystem players for insurance, financing, and roadside assistance services.