Oben Electric Raises INR 85 Crores in Pre-Series B Round, Enters Next Phase of Growth

Oben Electric, India’s homegrown and R&D-driven electric motorcycle manufacturer, today announced the successful raise of INR 85 Crores in its Pre-Series B round. The round saw participation from multiple renowned Indian American Family Offices including Raj K Soin, Musa Dakri, Ramesh Bhutada and other existing investors. The funding reflects strong investor confidence in Oben Electric’s vision, engineering depth, market traction & customer trust, which is demonstrated by its 10X revenue growth in the past 12 months.

The investment comes at a pivotal moment as the company is set to achieve INR 100 Crores revenue in FY26 and COGS break even by March 2026 signalling strong operational discipline. The company targets EBITDA break even by 2027 as the company scales to 150 exclusive showrooms & service centres by March 2026 and 500 showrooms in next 2 years driven by customer validation and strong dealership interest. The company continues to see strong dealer confidence, reflected in high-quality dealership applications, and repeat interest from existing dealers as they turn profitable.

The new capital will drive Oben Electric’s next phase of growth by scaling its distribution network and increasing brand awareness. Simultaneously, the company will also accelerate new product developments and product launches.

Built on a foundation of deep vertical integration, Oben Electric is focussed on further optimising its bill of materials through design improvements, enhancing production efficiency and scale manufacturing for long-term sustainability. In 2025, Oben Electric also expanded its sales channels to digital commerce platforms, making its motorcycles available on Amazon and Flipkart. The move has broadened customer accessibility and contributed to sustained demand across both retail and digital touchpoints. Oben Electric currently operates 85+ showrooms across 70+ cities in 18+ states.

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 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."

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 eco friendly EV motorcycle to common man in India. We see tremendous potential for this venture."

Earlier this year, Oben Electric introduced the Rorr EZ Sigma, its next gen city commuter motorcycle designed for enhanced everyday usability. With features like reverse mode, refined ergonomics, and a connected colour TFT display with smart features, the model has received overwhelmingly positive feedback from customers for its comfort, ease of use, and smart functionality

Oben Electric’s competitive advantage lies in its vertically integrated manufacturing ecosystem, covering in-house design, development and manufacturing end-to-end of LFP batteries, motors, chargers, TFT displays from its 3.5-acre integrated manufacturing facility in Bengaluru.

With this Pre-Series B infusion, Oben Electric’s total funding till date rises to INR 285 Crores. Further, the company is in active conversations to close its Series