Oben Electric, an electric motorcycle manufacturer, has had Rs 50 crore ($6 million) raised in a Series A financing circular by Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical, Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office, and other existing investors.

This financing brings the add up to value capital raised by the company to Rs 150 crore ($18 million) to date.In June 2023, Rs 40 crore ($4.8 million) was raised by the startup in an expanded pre-Series A round.

In a press release, it was stated by Oben Electric that the new stores will be sent towards growing its existing distribution organize to over 100 showrooms along with Oben Care benefit centers in over 50 cities in India by FY26, and its current item offerings will be extended.

Oben Electric was co-founded in 2020 by Madhumita Agrawal, Sagar Thakkar, and Dinkar Agrawal, and is focused on planning and manufacturing electric motorcycles and key components such as batteries, engines, vehicle control units, and domestic quick chargers. The company points to engage the electric portability space around the world with its cutting-edge innovation, prevalent item offerings, a developing conveyance arrange, and a stable domestic supply chain, de-risked from an administrative and compliance point of view, empowering them to scale production.

Oben Electric says that it is making strides with its prevalent, vertically coordinates, and well-researched e-motorcycle, offering beneath the brand name "Rorr," with over 20 stores over 10 cities in India, such as Bengaluru, Delhi, Jaipur, Lucknow, Pune, Kochi, and Thiruvananthapuram.

According to the Bengaluru-based company, it has as of late propelled the Oben Rorr EZ (Simple), estimated from Rs 89,999. The company claims that all its items highlight high-performance LFP (Lithium Iron Phosphate) battery innovation, conveying superior resilience and longevity, indeed in extraordinary climate conditions.

Oben Electric too claims that its e-motorcycles have been tried on over 200 parameters (counting components) for street value, backed by more than 75,000 third party charging stations over 1,600 cities in India, and more than 10 environment accomplices for insurance, financing & RSA services.

source: entrackr.