The company has marked the final close of its INR 100 Cr Series A funding round, after raising an additional INR 50 Cr

Earlier this year, Oben Electric raised INR 50 Cr from Ambis Holding US, Kuberans Ventures, Karimjee Group and Mission Vertical Capital

Founded in 2020, Oben Electric designs, develops and manufactures EV motorcycles and EV components

Bengaluru-based electric bike manufacturer Oben Electric today said it has marked the final close of its INR 100 Cr (around $11.5 Mn) Series A funding round, after raising an additional INR 50 Cr (around $5.7 Mn) capital.

The round saw participation from a mix of new and existing investors, including Helios Holdings, Sharda family office and Kay family, among others.

In January, the company raised INR 50 Cr in the first tranche of its INR 100 Cr Series A funding round.

The startup plans to deploy the fresh proceeds to expand its retail footprint, accelerate product development  and scale up manufacturing in its Bengaluru facility.

Founded in 2020 by Madhumita Agrawal, Dinkar Agarwal and Sagar Thakkar, Oben Electric designs, develops and manufactures EV motorcycles and EV components in its manufacturing facility in Bengaluru. As per the company, it holds 18+ patents for its proprietary technology and EV components.

(The story will be updated soon.)