Oben Electric has raised USD 10.2 million (~INR 85 crore) in a pre-Series B round backed by a clutch of Indian–American family offices and existing investors. The Bengaluru-based electric motorcycle manufacturer plans to use the proceeds to scale its exclusive retail network, push brand outreach and accelerate new product launches.
Oben Electric Pre Series B
Oben Electric Pre Series B round drew participation from Raj K Soin, Musa Dakri and Ramesh Bhutada, among others, Oben Electric disclosed, adding that talks are underway for a larger Series B. With the latest infusion, cumulative funding rises to INR 285 crore. The company also reiterated operational goals: revenue of INR 100 crore in FY26, COGS breakeven by March 2026 and EBITDA breakeven by 2027.
Oben Electric reported a 10x jump in revenue over the past 12 months and said the capital will also support optimisation of its bill of materials and production efficiency as it scales manufacturing. The firm currently operates over 85 showrooms across more than 70 cities in 18 states and aims to reach 150 outlets by March 2026, with a longer-term plan for 500 showrooms over two years.
Management Commentary
“This funding gives us clear visibility to achieve COGS breakeven by March 2026 and positions us for EBITDA breakeven in 2027,” said Madhumita Agrawal, founder and chief executive of Oben Electric.
Investor Raj K Soin said he was “very impressed by their operation and extreme focus towards quality and processes,” underscoring confidence in the company’s execution and the motorcycle opportunity in India’s EV market.
Footprint, Capacity and Products
The company noted that it designs and manufactures key EV components in-house at its Bengaluru facility, which has an annual capacity of 1 lakh units, and has expanded sales channels to e-commerce platforms such as Amazon and Flipkart to widen access. Earlier in 2025, Oben introduced the Rorr EZ Sigma, a city-focused electric motorcycle aimed at daily commuting.
Founded in 2020 by Dinkar and Madhumita Agrawal, the startup positions itself on deep vertical integration, including in-house LFP battery packs, motors, chargers and vehicle electronics.
Funding History and Competitive Context
Industry reports highlighted that Oben raised ~INR 50 crore in January and another ~INR 50 crore in June this year as part of its Series A and extension, taking total funding before the latest round to INR 200 crore. The company competes in the electric motorcycle segment alongside other two-wheeler EV players but says its end-to-end engineering is a differentiator as the category expands.
Market Outlook
Oben Electric said it will align expansion with dealer viability, pointing to improving profitability at existing outlets and strong dealership interest for its exclusive-store model. Management added that the company’s near-term priorities are network expansion, meeting its COGS breakeven timeline and advancing upcoming product platforms.
Oben Electric Pre Series B Highlights
- Round: Pre-Series B; amount USD 10.2 million (~INR 85 crore) announced on 18 December 2025.
- Investors: Indian–American family offices incl. Raj K Soin, Musa Dakri, Ramesh Bhutada; plus existing backers.
- Total funding to date: INR 285 crore after this round.
- Revenue and profitability: Targeting INR 100 crore in FY26; COGS breakeven by March 2026; EBITDA breakeven by 2027.
- Retail footprint: 85+ showrooms across 70+ cities; plan for 150 by March 2026 and 500 in two years.
- Manufacturing: Vertically integrated Bengaluru facility with 1 lakh units annual capacity.
- Recent product: Rorr EZ Sigma; also expanded to Amazon and Flipkart channels.
Conclusion
Oben Electric pre Series B raise extends its funding runway into a crucial scale-up phase for electric motorcycles, with concrete milestones on costs and capacity. Execution on distribution, dealer economics and timely launches will be key to meeting its FY26 revenue and 2026–27 breakeven targets in a competitive two-wheeler EV market.
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