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Electric two-wheeler start-up Oben Electric is gearing up to take a significant funding round to propel its next growth stage. The company will raise approximately Rs 300 crore, which it hopes will be closed by the second quarter of FY27.
Founder and CEO, Madhumita Agrawal, shared that investor discussions are already going on. This financing round will probably feature institutional investors, with an increasing confidence in the electric mobility space.
There are several areas in which the company hopes to use the funds. They involve new product development, enhancement of after sales service and increase in research capacity. Moreover, it will invest in expanding its retail and dealership network within India.
Oben Electric has continuously been increasing its market share. It already has about 150 stores and intends to expand the number of stores manifold. The company also plans to expand into over 350 stores by FY27, which indicates its aggressive expansion strategy.
"In this financial year, we are targeting over 350 stores and 3x growth," said Agrawal.
This growth will make the company access more customers and enhance accessibility. Furthermore, an extended network will enhance brand recognition both in urban and semi-urban markets.
Recently, the company based in Bengaluru has introduced its new electric motorcycle, Rorr EVO. This launch is a significant move towards increasing its product line.
More importantly, Oben Electric has attested to another product launch in this financial year. This demonstrates how the company is concerned with innovation and remaining competitive in an ever-evolving EV market.
Oben Electric reported strong growth in FY26. The company generated around Rs 80 crore in revenue, which represents a 400% increase YoY.
Its total sales have crossed 6,000 units so far. Although the electric motorcycle segment is still developing, these numbers show early customer interest.
However, the company understands that scaling further will require consistent performance and better customer support.
The company feels that the less than Rs 1.5 lakh segment is the key to EV adoption. This price bracket includes almost 90% of the motorcycle market in India.
Agrawal emphasised that it is necessary to attain product-market fit in this segment. Moreover, good after-sales service will significantly contribute to customer satisfaction. To reinforce this, Oben Electric is increasing its service crews and enhancing training programs of dealers.
Growth can also be enabled by government policies. As an example, the suggested policy of EVs in Delhi may enhance the cost impact and usage interest.
Before you go, don’t forget to check out the TVS two-wheeler sales report for April 2026.
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