Oben electric to raise Rs 300 crore, targets aggressive EV network expansion by FY27

Oben Electric, a Bengaluru-based electric two-wheeler startup, announced plans to raise about Rs 300 crore in its next funding round. The company expects to close this round by the end of the second quarter of financial year 2026-27 (FY27). This fundraiser will support Oben Electric’s expansion, including new product launches, aftersales service improvements, research and development, and network growth.

Key Highlights

• Oben Electric plans to raise Rs 300 crore by end of Q2 FY27
• Company targets over 350 stores and 3x growth in current financial year
• FY26 revenue reached Rs 80 crore with 400 percent year-on-year growth
• Over 6,000 units sold to date, reflecting early market traction

Funding and Expansion Plans

The upcoming funding round is expected to attract institutional investors. Oben Electric’s management confirmed that discussions with potential investors are ongoing. The company aims to use the funds to accelerate its growth strategy and strengthen its market position.

Oben Electric recently expanded its product portfolio by launching the Rorr EVO. Another product launch is planned within the current financial year. The company is also focusing on expanding its dealership network to support increased sales volumes. Oben Electric currently operates about 150 stores and targets more than 350 stores by FY27. The management stated that they are aiming for over 350 stores and a threefold growth in this financial year.

Sales Performance and Market Focus

Oben Electric reported revenue of approximately ₹80 crore at the end of FY26, marking a 400 percent year-on-year growth. The company has sold over 6,000 units to date, indicating strong early traction in the electric two-wheeler market. Oben Electric is working to expand its presence across multiple states and enhance after-sales support. The company is scaling its customer experience team and increasing dealer service training to strengthen after-sales service.

The startup identified the sub-Rs 150,000 commuter motorcycle segment as crucial for driving electric vehicle adoption. This price segment represents nearly 90 percent of India’s motorcycle market. Oben Electric believes that achieving product-market fit at this price point is essential for broader electric motorcycle adoption.

Government initiatives, such as proposed incentives, could help improve price parity and encourage wider electric vehicle uptake, especially in motorcycle-dominated markets like the national capital. Oben Electric’s current portfolio includes the Oben Rorr EZ, Oben Rorr EZ Sigma, and the flagship Oben Rorr.

CarBike 360 Says

​Oben Electric’s planned Rs 300 crore fundraise signals strong intent to scale rapidly in India’s competitive EV space. With a clear focus on expanding its retail network and strengthening production capabilities, the company is positioning itself for long-term growth. If executed well, this strategy could help Oben emerge as a serious contender in the evolving electric two-wheeler segment.