Oben Electric to raise ₹300cr by end of Q2
Oben Electric, a rising name in electric bikes, plans to raise ₹300 crore by the end of Q2 this financial year.
The funds will go into building new models, expanding their service and sales network, and making after-sales support better.
With India selling over one crore motorcycles each year but only a tiny fraction being electric, there's a lot of room for growth.
Oben Electric seeks 12,000 sales
After launching just last year, Oben wants to triple its sales to 12,000 bikes this year and ramp up its stores from about 100 to 350 by the end of the ongoing year.
Looking ahead to fiscal 2029, they're aiming for 1,000 outlets across India, including smaller tier 4 cities.
CEO Madhumita Agrawal says they see huge untapped potential in electric motorcycles and are confident of achieving our target.