Electric bike maker Oben raises Rs 50 crore

Oben Electric, an electric bike manufacturing startup, has raised Rs 50 crore in its latest funding round, according to a statement today, January 7.

Various entities, including Ambis Holding US, Kuberan Ventures, Karimjee Group and other existing investors, participated in the round.

The startup plans to use the funding to expand its existing distribution network to over 100 showrooms along with Oben Care service centres across 50 cities by FY26.

The company also plans to utilise the raised capital to expand its current product offerings, it added.

Oben Electric, which sells under the brand name of “Rorr”, has 20+ stores across 10 cities in India such as Bengaluru, Delhi, Jaipur, Lucknow, Pune, Kochi, and Thiruvananthapuram.

Commenting on the fundraise, Madhumita Agrawal, Founder & CEO, Oben Electric, said, “We are thrilled to close this Series A funding round, marking a pivotal moment in our journey to build a global EV powerhouse...This funding will fuel our next phase of growth as we expand across India and set our sights on entering strategic international markets, ultimately positioning Oben Electric among the top global players in the electric mobility space.”

Another EV startup Moonrider also raised $2.2 million funding today. Moonrider is a Bengaluru-based electric tractor technology startup. The fresh round was co-led by AdvantEdge Founders and Micelio Fund. Read more here