Oben Electric Secures Rs. 50 Crore In Extended Series A Round
Oben Electric, the Bengaluru-based electric motorcycle startup, has raised Rs. 50 crore in fresh capital as part of an extended Series A round concluded in May 2025. This follows the initial Rs. 50 crore raised in January this year, bringing the company's total Series A funding to Rs. 100 crore and overall funding to Rs. 200 crore. The latest round saw participation from a mix of new and existing investors, including Helios Holdings, the Sharda family office, the Kay family, and several other strategic backers. The continued investor interest underscores strong confidence in Oben Electric's product performance, financial metrics, and its emerging leadership in India's electric motorcycle segment.
The company plans to utilise the fresh capital to accelerate its retail expansion to over 150 showrooms across 50+ cities by the end of FY26. A significant portion of the funds will also be directed towards fast-tracking development of its upcoming 'O100' platform, which will underpin a new range of electric motorcycles priced under Rs. 1 lakh - targeting the mass market segment. Additionally, Oben will scale up its manufacturing operations at its Bengaluru facility and invest further in strengthening its after-sales service infrastructure.
Following its initial Series A raise earlier this year, Oben Electric swiftly expanded its footprint to 37 outlets across 26 cities in 13 states, including key markets such as Punjab, Gujarat, Madhya Pradesh, Telangana, Uttar Pradesh, Chhattisgarh, and Odisha. This rapid expansion highlights both robust consumer demand and Oben's strong execution capability.
Looking ahead, the company is preparing for a Series B funding round aimed at raising $30 million later in 2025. The upcoming round will support Oben Electric's international foray and further scaling of its production and product portfolio.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
13 minutes ago
- Time of India
Sinking of MSC ELSA 3: Kerala HC orders conditional arrest of sister ship in claims plea
Kochi: The HC on Wednesday ordered the conditional arrest of the vessel MSC Polo II, a sister vessel of MSC ELSA 3, which had capsized and sunk off the Kerala coast on May 25. The order was passed in a petition filed by Sans Cashew India Private Ltd, seeking compensation for the loss of cargo valued at Rs 74 lakh. Justice M A Abdul Hakhim further clarified that the vessel may be released upon the production of a demand draft for the said amount before the HC registrar general. Earlier, HC had similarly detained another vessel, MSC MANASA F, in connection with petitions filed by various companies to recover compensation for consignment losses arising from the sinking of ELSA 3. In the present petition, the petitioner submitted that it had lost two consignments of Ghana dried raw cashew nuts (in shell) shipped from Tema port, Ghana, to Tuticorin port, India. T by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo he cargo was transhipped via Adani Vizhinjam Port and loaded onto ELSA 3, which later sank due to technical and operational failures, as confirmed by the mercantile marine department (MMD) and directorate general of shipping. The petitioner contended that they are entitled to recover the maritime claim under the Admiralty (Jurisdiction and Settlement of Maritime Claims) Act, 2017, amounting to Rs 73.49 lakh. Meanwhile, the counsel for the vessel owner submitted that they had filed caveats before HC to prevent the arrest of vessels operated by the company within Indian territorial waters. It was also contended that the vessel is beyond 14 nautical miles from the Vizhinjam port and hence not available within the jurisdiction of this court. Nevertheless, HC ordered the conditional arrest of MSC Polo II until the production of the demand draft. Later in the afternoon, the shipping company produced the demand draft before the registrar. The petition has been adjourned to June 23.
Mint
17 minutes ago
- Mint
Eight Black Airport shuttle shutdown: Passengers left stranded, company offers refund — all you need to know
Eight Black Airport Shuttle, a Colorado-based company, which is a popular transportation company operating in the United States, abruptly posted a shutdown notice on its social media handles on June 13, leading to major passenger hassles, leading them getting stranded out of the blue. The company cited getting hit by a significant increase in insurance premiums, rising airport and regulatory fees, and steep capital costs, as major reasons for the company's closure after being a thriving shared ride service in the country. The company took to social media to write, 'This is a hard message to write. Eight Black Airport Shuttle, like Longmont Shuttle and Boulder Shuttle before it, has always been local, built from the ground up to serve our Boulder County neighbors. We took pride in providing reliable, shared airport rides from homes, hotels, and businesses across the region, including through our Hub in Longmont. In 2022, we expanded our reach by acquiring Green Ride Boulder and Longmont's shared ride operation. That chapter allowed us to grow, serve more people, and keep shared ride service alive in our community. But like many transportation companies, we've been hit hard by a perfect storm—a significant increase in insurance premiums, rising airport and regulatory fees, and steep capital costs. In the shared ride model, where affordability matters most, we simply can't raise prices enough to cover those costs while still offering the frequency and schedule that our customers expect. So with a heavy heart, we've made the decision to shut down Eight Black Airport Shuttle. Our last day of service will be today, Friday, June 13, 2025,' "We're grateful beyond words for the thousands of people who've ridden with us, shared feedback, and trusted us to get them to and from the airport over the years. This service has meant the world to us—and saying goodbye is painful. Thank you for being part of the ride," the post continued. Meanwhile, the company is currently offering refunds to passengers who had already pre-booked their services with the company. A Voucher Refund Request Form has been issued by the company for this purpose. The form's description reads, "Please submit the below information to initiate your voucher request. Please note that we will be doing our best to refund our loyal customers as quickly as possible, but it could take up to 12 months to complete all requests."
Time of India
20 minutes ago
- Time of India
Pinarayi Vijayan on Aranmula project: Let files move, we'll take a rational call
T'puram/Kottayam: Chief minister on Saturday sought to distance himself from the ongoing administrative processing of a new industrial project proposed on the now-defunct Aranmula airport land. Tired of too many ads? go ad free now He stated the files were moving "without his knowledge" and that no final decision was taken yet. "Files may be moving, but not with my knowledge. Let them move — we will examine and take a rational decision," Vijayan told reporters when asked about the Rs 600-crore electronics manufacturing cluster proposed by a private firm linked to the original promoters of the airport project. "I'm not aware of this project. I'm not against any project, but decisions can be made only after proper examination," he said, indicating that the project has not yet received political clearance. The CM's comments come amid mounting questions on whether the same LDF govt that scrapped the Aranmula airport project in 2016 — citing its location on paddy and wetland — was now considering a fresh project on the very same 335.25-acre plot. Make it a reality: P'thitta MP Pathanamthitta MP Anto Antony urged the state govt to make the project a reality. The Congress functionary said the project would lead to a comprehensive development of the district and its adjoining regions. He also termed the project the biggest in the district, with an investment of Rs 5,000 crore, providing jobs for thousands. "The project is being implemented as a joint venture between Centre and the state govt. If it becomes a reality, it will be a great relief for the people of Pathanamthitta who migrate for work," the MP said. Instead of welcoming a project that will provide employment opportunities to the new generation, pseudo-environmentalists are trying to destroy it, he said.
