Crime Today News
Electric motorcycle manufacturer Oben Electric is exploring a new facility in Manesar within the next couple of years and is expected to raise $50–60 million in its series B funding by 2025, a senior company official told Autocar Professional.
Founded in 2020, Oben Electric operates a 3.5-acre manufacturing facility in Bengaluru with an annual production capacity of 1 lakh units. The plant currently manufactures the company’s two electric motorcycle models — the Rorr and the Rorr EZ — ranging from Rs 89,999 to Rs 1,49,999. In the financial year 2025, the company sold 1,500 units and is targeting sales of 12,000 units by 2025–26.
The Bengaluru-based startup is pursuing a sustainable and profitable growth strategy, with a significant emphasis on in-house research and development. So far, it has invested Rs 150 crore in R&D and has a retail footprint of over 30 stores — a number it aims to expand to 150 by 2025–26.
To strengthen its supply chain in the northern parts of India and support future expansion, the company is eyeing a second manufacturing unit in Manesar, Haryana.
“As long as demand in the South continues, we’re well-positioned to manage it from Bengaluru. The current setup caters not just to the South but even parts of Central India. That said, we’ll eventually need a second facility, likely in the North or maybe the West, expanding strategically based on logistics and supply chain needs. That’s something we see happening in about two years,” said Madhumita Agrawal, Founder and Chief Executive Officer of Oben Electric.
“When it comes to setting up in the North, I think Manesar stands out as an ideal location. It’s a manufacturing hub with the kind of ecosystem we’d need. And whatever we build there would be equal to or even bigger than our current capacity,” she added.
As the company prepares to scale its manufacturing footprint, it is also aligning its financial strategy to support long-term growth through series B funding. In its series A funding in January 2025, the company raised $6 million.
The company has moved beyond raising funds from venture capitalists and is now focused on securing private equity investment in the next funding round, with an emphasis on a sustainable business model and profitability. It believes that while the trend of loss-making startups going public has gained momentum, it is ultimately not a sustainable approach.
“An IPO is certainly in our plans, but our immediate goal is to get the company to the right numbers over the next two years. From the third year onward, we’ll start preparing, as even getting the paperwork ready takes some time,” Madhumita said.
Adding to the IPO plans, Founder and Chief Technology Officer and Chief Operating Officer, Dinkar Agrawal said, “We’re looking at raising around $50–60 million to get to EBITDA positivity. The idea is to first reach profitability, then go for the pre-IPO round in a few years.”
From EV Maker to Component Supplier
With 99% localization, Oben Electric manufactures its own lithium-iron-phosphate (LFP) batteries and motors and is now gearing up to enter a new line of business — supplying these components to other OEMs, including in international markets.
“We don’t want to dilute our focus, but at the same time, it’s hard to predict. Some Japanese companies are already eyeing us because of our motor and our battery tech,” Madhumita said.
The company’s primary focus is on the motor sales market, which it believes is a largely untapped space. “Motors are our entry point, and it’s where we see strong revenue potential. Eventually, we’ll look at other verticals — maybe in four to five years, or perhaps even after two. But step by step,” she added.
“The way we’ve designed our motor — ranging from 6 kilowatt to 12 kilowatt — it can power both two-wheelers and three-wheelers. So tomorrow, we can approach a three-wheeler manufacturer and offer a plug-and-play solution… Ultimately, each of these business verticals — motors, batteries, and software — can evolve into standalone billion-dollar opportunities,” she said.
📰 Crime Today News is proudly sponsored by DRYFRUIT & CO – A Brand by eFabby Global LLC
Design & Developed by Yes Mom Hosting
