Oben Electric Raises Rs 50 Crore In Series A Funding For Nationwide Expansion

With this funding, the company aims to expand its existing distribution network to 100+ showrooms along with Oben Care service centers across 50 cities in India by FY26. Company also plans to utilize these funds to expand its current product offerings.

At present, Oben Electric operates in 10 cities with more than 20 stores, including Bengaluru, Delhi, Jaipur and Pune, with a network of 20+ showrooms.

With this funding of Rs 50 Crore, Oben Electric's total equity funding has reached Rs 150 crore. Looking ahead, Oben Electric is aiming to raise another USD 50 million in Series B funding by mid-2025.

Madhumita Agrawal, Founder & CEO, Oben Electric, said, “We are thrilled to close this Series A funding round, marking a pivotal moment in our journey to build a global EV powerhouse. What differentiates Oben Electric is our unwavering commitment to innovation and independence. We’ve built this company from the ground up, without reliance on strategic investors or corporate backing, empowering us to remain agile and focus on what truly matters - delivering high-quality, high-performance EVs that address the unique needs of Indian consumers. We are deeply grateful to our new investors for their confidence in our vision, and to our existing investors for their ongoing support. This funding will fuel our next phase of growth as we expand across India and set our sights on entering strategic international markets, ultimately positioning Oben Electric among the top global players in the electric mobility space.”