Electric 2-wheeler manufacturing startup OBEN EV raises $1.5 million
Date: 13 Dec 2021
EV start-up Oben EV raised 1.5mn USD in a seed round from We Founder Circle and
others. Founded by IIT Kharagpur and IIM Bangalore alumni, Husband-Wife Duo
Madhumita Agarwal and Dinkar Agarwal, the brand is developing new electric
2-wheelers in-house with indigenously developed components to deliver
seed round investment saw participation from notable investors at We Founder
Circle, Rakesh Somani, Co-founder of Life Element, Gaurav Juneja - Serial
investor, Eminent Cars, Siddharth Shah, Managing Director, Rajesh Motors, and
other prominent angels like Sumeet Pathak, Dr. Milan Modi, veteran technologist
EV with its strong R&D, Engineering expertise & multiple Innovations is
bringing its first make in India electric bike which runs for 200 km on a
single charge clocking a top speed of 100km/h. The product has the best balance
between providing the longest range at the highest performance in its segment
with a focus on style, reliability, and agility. This is being achieved through
16+ patented innovations ranging across improving product performance, customer
experience, and data analytics.
EV team will utilise the newly raised funds to launch their product in the
market, accelerate new product development, and expand experience centres, as
it looks to bolster its expansion plans.
VK Singhvi, Co-Founder, We Founder Circle said, “EV is at the cusp of the
early-adopter phase in India – and we all know that the real opportunity will
be in electric two-wheelers. I believe in supporting clean-energy start-ups
with innovation like OBEN EV that will create a positive impact on many aspects
- like mass mobility, clean environment, and overall conservation of ecosystem.
What we need today is the smooth shift to EV. Oben EV will be one of those
start-ups that will set the right standards for the EV industry to grow in
old Oben EV is all set to launch its first product, which is the performance
electric bike in March 2022.