Oben Rorr EZOben Electric, an Indian electric motorcycle manufacturer, has secured INR 50 Crores (approximately USD 6.1 million USD) in Series A funding, bringing their total raised capital to INR 150 Crores. The funding will be used to expand their distribution network to over 100 showrooms and service centers across 50 Indian cities by FY26 and to develop new products. Investors include Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical, Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office, and existing investors.
The company aims to capitalise on the growing electric motorcycle market in India, which currently represents only 1% of the total motorcycle market. Oben Electric plans a Series B funding round of USD 50 million by mid-2025 to further expand domestically and internationally.
Company's expansion plans
Oben Electric is targeting a significant expansion of its retail presence, aiming for over 100 showrooms and Oben Care service centers in 50 Indian cities within the next three fiscal years. This expansion will be supported by the recent influx of funding. The company is also committed to broadening its product portfolio.
The company has already established a presence in the Indian market with its "Rorr" electric motorcycle brand. It currently operates over 20 stores in 10 cities, including Bengaluru, Delhi, Jaipur, Lucknow, Pune, Kochi, and Thiruvananthapuram. This positions them among the top 10 players in these markets.
“We are thrilled to close this Series A funding round, marking a pivotal moment in our journey to build a global EV powerhouse. What differentiates Oben Electric is our unwavering commitment to innovation and independence. We’ve built this company from the ground up, without reliance on strategic investors or corporate backing, empowering us to remain agile and focus on what truly matters - delivering high-quality, high-performance EVs that address the unique needs of Indian consumers. We are deeply grateful to our new investors for their confidence in our vision, and to our existing investors for their ongoing support. 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,” said Madhumita Agrawal, Founder & CEO of Oben Electric, regarding the successful Series A funding round.
This assessment of the Indian motorcycle market and Oben Electric's potential was provided by Vinod Rustagi, Group CEO & Managing Director of Karimjee Group, Africa.
Vinod Rustagi, Group CEO & Managing Director, Karimjee Group, Africa commented “India being world’s largest motorcycle market with ~12Mn units sold last year, giving them 66% market share of all 2-wheeler sales & only 1% of them being electric, we think it’s inevitable of ICE motorcycles to transition into electric. Premium & mass commuter electric-motorcycle segment is a blind spot of EV transition with limited to players, primed for disruption. Being present at the right time & place with right capabilities is essential for disruption & growth. Among a handful of EV companies working on motorcycle EV transition, we found Oben Electric best suited to disrupt & lead this transition. We believe Oben is ready for growth & will disrupt ICE to EV transition in the E-Motorcycle segment.”
Jeff Mamera, Founder & General Partner, Mission Vertical Capital said "We are very excited about the large and quickly growing total addressable market for Oben's e-motorcycles. Our deep dive into the industry convinced us that this management team has built an excellent intellectual property portfolio, efficient manufacturing and brought in strong talent to execute their go-to-market strategy."
Oben's current portfolio
Oben Electric offers two electric motorcycle models: the Oben Rorr and the recently launched Oben Rorr EZ. The Oben Rorr EZ is priced starting at INR 89,999 and boasts a 0-40 km/h acceleration time of 3.3 seconds, a top speed of 95 km/h, and a range of up to 175 km (IDC) depending on the battery variant chosen. The company also continues to sell its flagship Oben Rorr model, a higher-performance electric motorcycle. Both models utilize Lithium Iron Phosphate (LFP) battery technology, emphasizing resilience and longevity, even in challenging weather conditions. This marks a notable distinction in the Indian electric two-wheeler market.
The company operates a manufacturing plant in Jigani, Bangalore, with a capacity exceeding 100,000 units and employs over 300 people. They also maintain a domestic supply chain network of over 150 vendors. Oben Electric's motorcycles undergo rigorous testing, including over 200 parameters for road worthiness. They also offer access to over 75,000 third-party charging stations across more than 1,600 cities in India and partnerships with over 10 ecosystem partners for insurance, financing, and roadside assistance services.
The company’s manufacturing facility in Bangalore, with a capacity exceeding 100,000 units, demonstrates their commitment to scaling production to meet anticipated demand. This, combined with their robust supply chain and partnerships, positions them for growth in the expanding Indian electric vehicle market.
In-house R&D
Oben Electric has emphasised their in-house research and development, vertical integration, and domestic supply chain as key differentiators in the electric motorcycle market. They have highlighted their commitment to building the company independently without relying on strategic investors or corporate backing. The company's focus on delivering high-quality, high-performance electric vehicles tailored to the Indian market is central to their vision.
Oben Electric's choice of LFP battery technology underscores their emphasis on safety and longevity. LFP batteries are known for their thermal stability and long cycle life, which are crucial factors for electric vehicles, especially in demanding climates.
