Indian electronic vehicle (EV) startup Oben Electric has secured 40 crore rupees ($4.8 million) in an extended pre-Series A funding round. Investors include Stride Ventures, Indian Renewable Energy Development Agency, Mumbai Angels, and existing investors We Founders Circle, US India EV Angels, and Kalvani Family Office. The funds will be utilized to initiate deliveries of their electric bike, fulfill existing orders, enhance production capacity, and improve the distribution network.
Oben Electric, founded in 2020, is a research and development-driven startup that designs, develops, and manufactures electric motorcycles in-house, along with critical EV components. Its flagship product, the Oben Rorr e-motorcycle, boasts complete in-house design, development, and 95 percent component-level localization, supported by twenty-one patents. The company aims to meet the demand of its twenty-one thousand preorders by scaling up its manufacturing capacity and has already established a distribution network in major Indian cities.