Accelerating expansion, raises ₹850M Oben Electric to fuel next growth phase and strengthen market presence.
Oben Electric has raised ₹850 million in its Pre-Series B funding round, signalling strong investor confidence in its vision, engineering capabilities, and market traction. The round saw participation from prominent Indian American family offices, including Raj K Soin, Musa Dakri, and Ramesh Bhutada, alongside existing investors.
The capital injection comes as the company targets ₹1 billion in revenue for FY26 and aims to achieve COGS break-even by March 2026, reflecting disciplined operational management. Oben Electric plans to expand its distribution network to 150 exclusive showrooms and service centres by March 2026, scaling to 500 showrooms within the next two years.
“This fundraise is a strong validation of investor confidence in Oben Electric’s operating momentum, capital discipline, and growth roadmap,” said Madhumita Agrawal, Founder & CEO. “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.”
The new funding will support network expansion, product development, and enhanced manufacturing efficiency through its vertically integrated facility in Bengaluru. Oben Electric has already broadened its reach by selling motorcycles on Amazon and Flipkart, complementing its 85+ showrooms across 70+ cities in 18 states.
Oben Electric’s competitive advantage lies in its end-to-end in-house design and manufacturing of LFP batteries, motors, chargers, and TFT displays. Total funding to date now stands at INR 2.85 billion, with Series B discussions actively underway, positioning the company for the next phase of growth in India’s expanding EV market.
