Indian electric motorcycle manufacturer Oben Electric has successfully secured $9.4 million in a Pre-Series B funding round, bolstering its financial position to accelerate expansion and product development. The investment was led by a consortium of prominent Indian American family offices, including Raj K Soin, Musa Dakri, and Ramesh Bhutada, alongside continued support from existing investors. This capital infusion, which brings the company's total funding to $31.5 million, is earmarked for scaling its distribution network and enhancing brand visibility across the country.
Strategic Financial Milestones
The new funding arrives at a crucial time, reinforcing Oben Electric's clear roadmap towards profitability and operational efficiency. The company is targeting a revenue of $11 million in the 2026 fiscal year and is on track to achieve cost of goods sold (COGS) break-even by March 2026. This disciplined financial strategy, which follows a reported tenfold revenue growth in the past year, has been instrumental in securing strong investor confidence for this round.
Expanding Market Presence
A primary objective for the fresh capital is the aggressive expansion of Oben's retail and service footprint across India. The company plans to increase its current network of over 85 showrooms to 150 exclusive outlets by March 2026, with a long-term vision of reaching 500 showrooms in the next two years. This physical expansion is complemented by its recent entry into digital commerce, making its motorcycles available on major platforms like Amazon and Flipkart to broaden customer accessibility.
Innovation and Manufacturing Prowess
Oben Electric's competitive advantage is significantly enhanced by its deep vertical integration, with a 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 control over the supply chain supports continuous product innovation, such as the recent launch of the Rorr EZ Sigma, a next-generation city commuter motorcycle praised for its user-friendly features and smart functionality.
Investor Confidence and Market Outlook
The participation of notable investors underscores a strong belief in Oben's vision and operational capabilities. Key backers have highlighted the company's focused leadership, quality-driven manufacturing processes, and its strategic position to capitalize on the growing demand for sustainable mobility in India. According to Madhumita Agrawal, Founder and CEO, this funding provides clear visibility to scale sustainably while building a category-defining brand from India as the company progresses toward EBITDA break-even in 2027.
In conclusion, this Pre-Series B funding round positions Oben Electric to significantly strengthen its market share and advance its mission of making electric mobility accessible. With a clear focus on expanding its distribution, innovating its product line, and maintaining capital discipline, the company is well-prepared for its next phase of growth. The firm is already in active discussions to close a larger Series B round, signaling its readiness to further solidify its standing in the competitive EV landscape.