Oben Electric eyes ₹300 crore fundraise, targets Q2 FY27 close

Electric two-wheeler startup, Oben Electric, on Thursday said it is planning to raise about ₹300 crore in its next funding round and expects it to close by the end of the second quarter (Q2) of financial year 2026-27 (FY27).

“We will be doing our next round, which would be around ₹300 crore… We are seeing the closure to be at the end of the second quarter,” said Madhumita Agrawal, Founder and CEO of Oben Electric.

The company said that the funding round aligns with its broader expansion plans, which include product launches, aftersales service enhancements, R&D, and network expansion. The fundraise is expected to see participation from institutional investors, with conversations already underway according to the top management.

Oben’s expansion plans
The Bengaluru-based startup, which expanded its portfolio by launching Rorr EVO on Thursday, said it has slated another product in this financial year.

The company is also looking to expand its dealership network as it scales volumes. It currently has about 150 stores and is targeting 350-plus stores in FY27.

“In this financial year, we are targeting over 350 stores and 3x growth,” said Agrawal.

According to the company, it ended FY26 with about ₹80 crore in revenue, registering 400 per cent growth year-on-year, while its sales crossed 6,000 units to date, reflecting early traction in the still-nascent electric motorcycle market. It is also focusing on expanding its presence across states and strengthening after-sales support.

“After-sales service will be a focus, and expansions will be a focus,” Agrawal added. For this, the company is scaling its customer experience team and dealer service training programmes.

The startup added the below ₹1,50,000 commuter segment is key for driving EV adoption in the motorcycle segment. Agrawal said that product-market fit at this price point will be critical for wider EV adoption in motorcycles, as it accounts for nearly 90 per cent of the country’s motorcycle market.

She added that government initiatives such as the proposed Delhi EV policy could accelerate adoption by improving price parity and encouraging wider EV uptake in a motorcycle-heavy market such as the national capital.

Oben Electric’s portfolio includes Oben Rorr EZ, Oben Rorr EZ Sigma, and the flagship Oben Rorr, and Oben Rorr EVO.