Bengaluru-based Oben Electric, India’s homegrown and R&D-driven electric motorcycle manufacturer, has raised ₹85 crore in its Pre-Series B funding round, marking a significant milestone in its growth journey. The round saw participation from prominent Indian-American family offices, including Raj K Soin, Musa Dakri, and Ramesh Bhutada, along with continued backing from existing investors.
The fundraise reflects strong investor conviction in Oben Electric’s long-term vision, engineering-first approach, and market execution. Over the past 12 months, the company has delivered a sharp 10X growth in revenue, underscoring rising consumer acceptance and growing traction in the competitive electric two-wheeler space.
Credits: Oben Electric
Clear Path to Profitability and Financial Discipline
The timing of the investment is strategic. Oben Electric is targeting ₹100 crore in revenue by FY26 and aims to achieve cost-of-goods-sold (COGS) break-even by March 2026—an important operational milestone for any EV OEM operating at scale.
Beyond this, the company has laid out a roadmap to reach EBITDA break-even by 2027, highlighting its focus on capital discipline and sustainable growth rather than growth-at-any-cost. In an industry where profitability remains elusive for many players, Oben’s clear financial milestones stand out.
Aggressive Yet Validated Expansion Plans
Oben Electric plans to significantly scale its physical footprint, expanding to 150 exclusive showrooms and service centres by March 2026, and further to 500 showrooms over the next two years. What makes this expansion notable is the strong dealer validation backing it.
The company reports high-quality dealership applications and repeat interest from existing dealers as outlets turn profitable—an important signal of on-ground viability. Currently, Oben Electric operates over 85 showrooms across 70+ cities in more than 18 states, giving it a growing pan-India presence.
Capital to Fuel Distribution, Brand, and Product Innovation
The newly raised capital will be deployed to accelerate Oben Electric’s next phase of growth. A key focus will be scaling its distribution network and increasing brand awareness in both metro and non-metro markets.
At the same time, Oben will fast-track new product development and upcoming launches, reinforcing its ambition to build a category-defining electric motorcycle brand from India. The company continues to invest heavily in R&D, design improvements, and manufacturing efficiencies to optimise its bill of materials and enhance long-term sustainability.
Omnichannel Push Strengthens Customer Reach
In 2025, Oben Electric expanded its sales channels by onboarding digital commerce platforms such as Amazon and Flipkart. This omnichannel approach has helped broaden customer access and drive consistent demand across both online and offline touchpoints.
The move reflects changing consumer behaviour and positions Oben as one of the few electric motorcycle brands actively leveraging large-scale digital platforms alongside traditional retail.
Leadership and Investor Confidence
Commenting on the fundraise, Founder and CEO Madhumita Agrawal highlighted the importance of the milestone, calling it a validation of Oben Electric’s operating momentum, capital efficiency, and growth roadmap. She emphasized that the funding provides strong visibility toward achieving COGS break-even by March 2026 and sets the foundation for EBITDA profitability by 2027.
Investors echoed this confidence. Raj K Soin cited Oben’s leadership focus, manufacturing quality, and the large unmet market for electric motorcycles as key reasons for his investment. Musa Dakri pointed to the expanding EV two-wheeler market driven by sustainability awareness, while Ramesh Bhutada highlighted the company’s mission to make eco-friendly motorcycles accessible to the common Indian consumer.
Vertically Integrated Advantage
Oben Electric’s key differentiator lies in its deep vertical integration. From its 3.5-acre manufacturing facility in Bengaluru, the company designs, develops, and manufactures critical components in-house—including LFP batteries, motors, chargers, and TFT displays.
This end-to-end control over technology and production not only enhances product quality but also supports cost optimisation and scalability, giving Oben a competitive edge in a crowded EV landscape.
Credits: ET Auto
What Lies Ahead
With total funding now at ₹285 crore, Oben Electric is also in active discussions to close its next Series round. As the company scales operations, expands its footprint, and sharpens its product portfolio, it is positioning itself as a serious long-term contender in India’s electric motorcycle revolution.
