Bengaluru-based electric motorcycle manufacturer Oben Electric has raised an additional ₹500 million (~$5.8 million) in May 2025 through an extended Series A funding round.

The extended round saw participation from new and existing investors, including Helios Holdings, the Sharda family office, and the Kay family.

This follows the company’s initial Series A funding of ₹500 million (~$5.8 million) secured in January 2025, increasing the total amount raised in this round to ₹1 billion (~$11.6 million).

Oben Electric’s overall capital raised to date has reached ₹2 billion (~$23.2 million).

The company stated that the fresh funding will be used to accelerate its expansion plans, develop new products, and scale its manufacturing capabilities.

Oben Electric employs a vertically integrated approach, developing key electric vehicle components, including the lithium-iron-phosphate battery, motor, and vehicle control unit, in-house.

It plans to expand its retail footprint to over 150 showrooms across more than 50 cities by the end of the financial year 2026. The company will focus on product development through the introduction of its new ‘O100’ platform, aimed at delivering electric motorcycles priced below ₹100,000 (~$1,160).

The company also plans to expand its production infrastructure within its existing facility in Bengaluru and enhance its after-sales service network.

Following its initial Series A raise in January, Oben Electric expanded its reach to 37 retail outlets across 26 cities in 13 states. These included markets such as Punjab, Gujarat, Madhya Pradesh, Telangana, Uttar Pradesh, Chhattisgarh, and Odisha.

Electric vehicle sales in India reached 514,198 units in the first quarter of 2025, representing an increase of over 3% year-over-year compared to the 499,930 units sold in the same period in 2024.

In May this year, the Ministry of Heavy Industries mandated a 100% domestic content requirement for 18 EV components under the two-wheeler, three-wheeler, and e-buses segments to avail of a subsidy under the PM E-Drive program.