Oben Electric, an Indian electric motorcycle startup, has secured ₹85 crore (about $10 million) in a pre-Series B funding round. This is a key step for India’s quickly growing D2C scene.
The funding came from Indian-American family offices in the U.S. with backgrounds in manufacturing, plus angel investors like Raj K Soin, Musa Dakri, and Ramesh Bhutada.
Oben Electric will use the money to grow its distribution, strengthen its direct retail, and launch products. The goal is to build a strong EV brand in India that focuses on service. This funding shows that investors have confidence in the D2C business model in India, especially for electric vehicles.
Madhumita Agrawal, Dinkar Agrawal, and Sagar Thakkar founded Oben Electric in 2020. The company currently sells three versions of its Rorr electric motorcycle. Oben is focused on motorcycles, unlike other companies that lead with scooters. Their plan centers around motorcycles as main vehicles, which influences their choices about expansion, service, and manufacturing.
Oben Electric plans to expand from 85 stores across 18 states to 150 showrooms with service centers by March 2026. They aim to have close to 500 stores in the next two years, focusing on deepening their presence in current states instead of spreading out too much. This fits with D2C market trends for 2025, where brands prioritize operations, trust, and service over quick expansion.
A key part of Oben Electric’s plan is its service-focused retail model. Dealers can only join if they also set up service centers next to showrooms, which allows for better control over the customer experience. Oben Electric doesn’t use third-party service providers, choosing to take responsibility, which sets them apart in the EV space.
Beyond retail expansion, another goal is to achieve COGS break-even by the end of FY26, showing a focus on unit economics. Oben Electric also announced its upcoming O100 motorcycle platform, which aims to enter the 100cc segment. It is on track, with sales expected to start next year, which will make a bigger market available.
Sales data shows the startup’s growth. Based on VAHAN records, Oben Electric’s sales jumped from 630 units in 2024 to 2,828 units in 2025 (through November), a 348.89% increase driven by retail expansion and its focus on motorcycles. Revenue in FY25 was about ₹25 crore ($3 million), and they expect to reach ₹100 crore ($12 million) this financial year as sales double.
Oben Electric makes its motorcycles and key EV parts in-house, which strengthens supply chain control and long-term margins. So far, the company has raised ₹285 crore from investors like Helios Holdings, the Sharda family office, and Ambis Holding. The current pre-Series B round is expected to be followed by a larger Series B raise of $20–40 million, placing Oben Electric among the D2C startups ready to grow in India’s EV market.
