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Oben Electric Closes INR 100 Cr Series A Funding Round

  • 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.

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