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Economic Times
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Oben Electric raises Rs 50 crore; total Series A funding hits Rs 100 crore
- Oben Electric has raised an additional Rs 50 crore in an extended Series A funding round, bringing the total Series A funding to Rs 100 crore.
- The funding will support growth, expand the distribution network to over 150 showrooms in 50 cities, and fast-track product development for the 'O100' platform under Rs 1 lakh.
- Part of the funds will be used to scale up the Bengaluru manufacturing facility and strengthen after-sales service network.
- New and existing investors like Helios Holdings, Sharda family office, Kay family, and others participated in the latest funding round.
- Oben Electric's Founder and CEO, Madhumita Agrawal, emphasized expanding the retail footprint and innovation roadmap.
- The company aims to democratize electric motorcycles for the mass market with platforms like O100.
- The funding, backed by vertical integration and a resilient supply chain, prepares Oben Electric for scalability, impact, and growth opportunities.
- Oben Electric has received a total capital infusion of Rs 200 crore so far.
- Following the initial Series A fundraise, Oben Electric expanded with 37 retail outlets across 26 cities in 13 states, including key markets like Punjab, Gujarat, MP, UP, Telangana, Chhattisgarh, and Odisha.
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