Oben Electric raises ₹85 crore, targets ₹100 crore revenue in FY26

Oben Electric raises ₹85 crore in a pre-Series B round to scale showrooms, boost brand reach and accelerate product launches as it targets break-even by FY27

Oben Electric, a Bengaluru-based electric motorcycle manufacturer, on Thursday announced the successful raise of Rs 85 crore 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 and customer trust, which is demonstrated by its ten-fold revenue growth in the past 12 months, the company said. The investment comes at a pivotal moment as the company is set to achieve Rs 100 crore revenue in FY26 and COGS (cost of goods sold) 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 and service centres by March 2026 and 500 showrooms in next two 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. With this pre-Series B infusion, Oben Electric’s total funding till date rises to Rs 285 crore. Further, the company is in active conversations to close its Series B. 

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 focused 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 over 85 showrooms across more than 70 cities in 18 states.

 

Madhumita Agrawal, founder and chief executive officer, 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.”

 

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.

 

Raj K Soin, chairman and chief executive officer, 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 and 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.”

 

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.