INDIA, 1 July 2023: Bengaluru-based electric vehicle (EV) startup Oben Electric has raised INR 40 crore in an extended pre-series A round, taking its total funding to INR 88 crore. The company plans to use the fresh capital to increase production capacity to 100,000 units per year and meet the demand of its 21,000 preorders.
Oben Investors Pool

The latest funding round was led by Stride Ventures and Indian Renewable Energy Development Agency (IREDA), with participation from new investors Mumbai Angels and other high-net-worth individuals (HNIs). Existing investors Kalvani Family Office, US India EV Angels, and We Founder Circle also participated in the round.
Oben Electric recently opened its first experience center in Bengaluru and deliveries of its electric motorcycle ‘Oben Rorr’ are expected to commence in the first week of July. The company claims to have already established a distribution network in major Indian cities and plans to further expand it to meet the growing demand for EVs.

The Oben Rorr is a high-performance electric motorcycle that features a 10 kW IPMSM motor and a 4.4 kWh LFP battery pack. The motorcycle has a claimed top speed of 100 kmph and a certified range of 187 km (on the Indian Driving Cycle). It also comes with features such as a reverse mode, cruise control, and multiple riding modes.
Comments
Madhumita Agrawal, Founder and CEO of Oben Electric, said, “The additional infusion of funds will help us to scale up our production capacity and meet the growing demand for our product Oben Rorr. We are also working on developing new products and expanding our distribution network.”
Nandini Mansinghka, CEO of Mumbai Angels, said, “The EV market in India is growing rapidly and Oben Electric is well-positioned to capitalize on this opportunity. The company has a strong team with a proven track record and I am confident that they will be successful in achieving their goals.”