Oben Electric has raised Rs 85 crore in its Pre-Series B funding round, with participation from Indian American family offices including Raj K Soin, Musa Dakri, and Ramesh Bhutada, along with existing investors. The electric motorcycle manufacturer plans to use the funds for national retail expansion and new product launches, targeting Rs 100 crore revenue in FY26.
The company has achieved 10X revenue growth in the past 12 months and aims to reach COGS break-even by March 2026 and EBITDA break-even by 2027. Oben Electric plans to scale to 150 exclusive showrooms and service centers by March 2026 and 500 showrooms within two years.
With this funding, Oben Electric’s total capital raised stands at Rs 285 crore. The company is in active discussions to close its Series B round.
Oben Electric currently operates 85+ showrooms across 70+ cities in 18+ states. The company expanded its sales channels in 2025 to include Amazon and Flipkart for digital commerce.
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), said, “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 much impressed by their operation and extreme focus towards quality and processes. It was combination of these factors and large unfilled market for e bikes that led me to invest in their company.”
Musa Dakri, Founder & Chairman, Wallis Bank (USA), said, “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), said, “We decided to invest because Oben is managed by passionate and capable leadership who believes in offering a first ever ecofriendly EV motorcycle to common man in India. We see tremendous potential for this venture.”
Earlier this year, Oben Electric launched the Rorr EZ Sigma, a city commuter motorcycle with features including reverse mode, refined ergonomics, and a connected color TFT display with smart features.
The company operates a 3.5-acre manufacturing facility in Bengaluru with an annual production capacity of 1 lakh units. Oben Electric manufactures LFP batteries, motors, chargers, and TFT displays in-house and holds more than 25 patents for its proprietary technology and EV components.
Founded in August 2020, Oben Electric specializes in designing, developing, and manufacturing electric motorcycles and EV components in India.