This latest funding brings the company’s total equity capital raised to ₹150 crore since its inception.
The investment round was led by Ambis Holding US and witnessed participation from Kuberan Ventures, Karimjee Group, Mission Vertical and the startup’s existing investors.
Oben Electric plans to utilise the fresh funds to significantly expand its distribution network across India. The company is looking at increasing its current retail presence from 20 stores to 100 by the end of 2025.
It will also invest the funding in bolstering its service network to ensure seamless customer support.
“We currently have a presence in key markets such as Delhi, Pune, Jaipur, Bengaluru, and Kerala. With this funding, we aim to expand our reach to all major cities and towns across India,” Madhumita Agrawal, Founder & CEO of Oben Electric, said.
Oben Electric primarily focuses on the commuter segment of the two-wheeler market, which constitutes a significant portion of the overall market. The company currently offers two electric motorcycle models — the Rorr, a premium commuter motorcycle equivalent to a 150cc petrol bike, and the recently launched Rorr EZ.
“We will continue to focus on expanding our offerings within the commuter segment. Our current product lineup caters to the needs of daily commuters, and we plan to further strengthen our position in this growing market,” Agrawal added.
GrayQuest raises ₹80 crore in Series B fundraise
Rishab Mehta, Founder & CEO of GrayQuest shared his insights on how the company plans to utilise its Series B fundraise of ₹80 crore.
The funding round was led by IIFL Fintech Fund, Claypond Capital and existing investor Pravega Ventures.
The education loans focused fintech, was founded seven years ago, and enables institutions to offer students and parents multiple tailored payment options for annual education fees without any extra cost.
First Published: Jan 25, 2025 9:11 AM IST
