<ul data-eligibleForWebStory="true">Bengaluru-based Oben Electric has concluded its Series A funding round by securing an additional INR 50 Cr, totaling INR 100 Cr.The funding round included both new and existing investors such as Helios Holdings, Sharda family office, and Kay family.Oben Electric had previously raised INR 50 Cr in the first tranche of the Series A funding.The company plans to utilize the funds to expand its retail presence, drive product development, and scale up manufacturing in Bengaluru.Oben aims to democratize electric motorcycles for the mass market through innovations like O100.Founded in 2020, Oben Electric focuses on designing, developing, and manufacturing EV motorcycles and components, holding over 18 patents.The startup previously used funding to open 37 outlets across multiple states and plans to reach over 150 showrooms in 50 cities by FY26.In 2023, Oben raised INR 74 Cr in its Pre-Series A round, accumulating a total of INR 200 Cr in funding so far.The EV market in India is rapidly growing, with two-wheelers and three-wheelers leading the charge, amid significant increase in registrations.As per Inc42 report, India's EV market is projected to reach $132 Bn by 2030, with numerous EV startups in the country.