Oben EV has announced that it has raised $1.5 million in a seed round from We Founder Circle and others. The EV startup was founded by IIT Kharagpur and IIM Bangalore alumni, husband-wife duo Madhumita Agarwal and Dinkar Agarwal. The 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 Dr. Aloknath.
Oben EV plans on bringing its first make in India electric bike which runs for 200 kilometres on a single charge clocking a top speed of 100km/h. It’s is touted to be the industry’s first completely make in India unit of the electric bike by a homegrown brand. Furthermore, the brand is currently developing new electric two-wheelers in-house with indigenously developed components to deliver high-quality products. The folks at Oben EV will utilize 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.
Commenting on the Investment, Gaurav 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 India.
“We are very excited to raise the seed round as this fund will help us enter the market with the first completely homegrown and indigenously developed performance motorcycle and deliver our first set of vehicles to the customers in the next 6 months", says Madhumita Agarwal, Co-founder, Oben EV.
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Moreover, Oben EV is all set to launch its first product, which is a performance electric bike in March 2022. The startup plans to bring four new homegrown products over the next two years in various segments.
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