Bengaluru-based electric bike manufacturer Oben Electric today said it has marked the final close of its INR 100 Cr (around $11.5 Mn) Series A funding round, after raising an additional INR 50 Cr (around $5.7 Mn) capital.
The round saw participation from a mix of new and existing investors, including Helios Holdings, Sharda family office and Kay family, among others.
In January, the company raised INR 50 Cr in the first tranche of its INR 100 Cr Series A funding round.
The startup plans to deploy the fresh proceeds to expand its retail footprint, accelerate product development and scale up manufacturing in its Bengaluru facility.
Founded in 2020 by Madhumita Agrawal, Dinkar Agarwal and Sagar Thakkar, Oben Electric designs, develops and manufactures EV motorcycles and EV components in its manufacturing facility in Bengaluru. As per the company, it holds 18+ patents for its proprietary technology and EV components.
(The story will be updated soon.)
The post Oben Electric Closes INR 100 Cr Series A Funding Round appeared first on Inc42 Media.
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