9 months ago
Oben Electric Secures INR 85 Cr Funding
Oben Electric is a company that makes electric motorcycles.
They just got a big amount of money, INR 85 Cr, from investors to help them grow.
They plan to open more stores and start selling a new type of motorcycle called the O100.
Right now, they have stores in 18 states in India and want to have 150 stores by 2026.
They also want to make sure their motorcycles are reliable and have good service support because that's important to their customers.
They make their motorcycles and batteries themselves, which helps them control the quality.
They are doing well and expect to make a lot more money next year.
Oben Electric raised INR 85 Cr in pre-Series B funding from Indian-American family offices and angel investors.
The startup plans to scale its distribution network to 150 exclusive stores with service centres by March 2026.
Oben Electric aims to achieve COGS break-even by the end of FY26 and launch the O100 motorcycle platform next year.
The company currently operates 85 exclusive stores across 18 states and focuses on reliability and service support.
Oben Electric's revenue in FY25 was around $3 Mn, with a projected revenue of $12 Mn in FY26.
- Who
- Oben Electric, an electric bike maker founded by Madhumita Agrawal, Dinkar Agrawal, and Sagar Thakkar
- What
- Raised INR 85 Cr in pre-Series B funding to scale distribution network and launch new products
- Where
- Operates in 18 states across India, with a focus on North India and Southern markets like Bengaluru
- When
- Funding round details not specified, but plans to have 150 stores by March 2026
- Why
- To expand its distribution network, achieve COGS break-even by FY26, and launch new products like the O100 motorcycle platform
Key facts
- Funding Amount
- INR 85 Cr ($10 Mn)
- Founded
- 2020
- Founders
- Madhumita Agrawal, Dinkar Agrawal, Sagar Thakkar
- Current Stores
- 85 exclusive stores across 18 states
- Target Stores by 2026
- 150 exclusive stores with service centres
- Upcoming Product
- O100 motorcycle platform
- Revenue FY25
- $3 Mn (INR 25 Cr)
- Projected Revenue FY26
- $12 Mn (INR 100 Cr)
Quotes
Madhumita Agrawal
Founder & CEO, Oben Electric
“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 towards EBITDA break-even in 2027. We remain focused on scaling sustainably while building a category-defining electric motorcycle company from India.”
thehindubusinessline.com
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 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.”
thehindubusinessline.com
Sources
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