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Oben EV Startup raises over ₹11 Crores For Electric Bikes

  • Posted by Rakhi Jha On 14-Dec-2021 11:50 AM

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Oben EV Startup raises over ₹11 Crores For Electric Bikes

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Oben EV, a growing Electric vehicle start-up, received a raise of over ₹11 crores in a “Seed round” from We Founder Circle and others.

This Seed Round Investment had multiple participants and grabbed the attention of multiple investors We Founder Circle, Rakesh Somani, Co-founder of Life Element, Gaurav Juneja – Serial investor, Eminent Cars, Siddharth Shah, Managing Director, Rajesh Motors, and other investors was also there like Sumeet Pathak, Dr Milan Modi, veteran technologist Dr Aloknath.

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Oben has started to develop its firstelectric bike, which is going to have the label “Made In India”. This Electric Bike gonna run 200 km on a single charge clocking a top speed of 100km/h. Oben Claims that “It’s the industry-first 100 Percent make in India unit of the electric bike by a homegrown brand.”

This Electric Bike claims to have the balance between providing the longest The product has the best balance between providing the longest range at the highest performance in its segment with a focus on style, reliability, and agility.

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Oben says that it has been achieved just because of 16+ patented innovations ranging across improving product performance, customer experience, and data analytics.

Oben EV team pledge to utilize this big fundraise in the correct manner in the Electric Vehicle Market, they say, they would accelerate new product development, and would definitely expand experience centres.

This newly establish EV Company is expecting to launch its first product in the electric world in March 2022. This Electric Two-Wheeler will have the label “Made In India”. With the Positive approach, Oben aims to push the adoption of electric vehicles by making them more accessible, affordable and secure. Till now, they haven’t disclosed the Expected amount of this Electric Bike. With this announcement, Oben also has the plan to bring four new homegrown products over the next 2 years in various segments to claim themself a leader in the electric two-wheeler industry.

Gaurav VK Singhvi, Co-Founder, We Founder Circle, Commented on the Investment Process and said, “EV is at the cusp of the early-adopter phase in India – and we all know that the real opportunity will be in electric two-wheelers. I believe in supporting clean-energy start-ups with innovation like OBEN EV that will create a positive impact on many aspects – like mass mobility, clean environment, and overall conservation of ecosystem. What we need today is the smooth shift to EV. Oben EV will be one of those start-ups that will set the right standards for the EV industry to grow in India",

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“We are very excited to raise the seed round as this fund will help us enter the market with the first completely homegrown and indigenously developed performance motorcycle and deliver our first set of vehicles to the customers in the next 6 months”, says Madhumita Agarwal, Co-founder, Oben EV.

“India’s urban population is rapidly moving in the direction of electrifying mobility. This coupled with additional support from the government is set to bolster the growth of a booming electric vehicle market in India. We believe that Oben EV’s innovative design and engineering will not just bring customers on board and convince them to adopt new technology but will further stimulate and strengthen the EV startup ecosystem in India”, says Neeraj Tyagi, Co-founder & CEO, We Founder Circle".