VC Fund Investments
Electric bike maker Oben raises Rs.40-Cr from Stride Ventures, IREDA, others
Bengaluru-based electric motorcycle maker Oben Electric has raised INR 40 crore in an extended pre-series A round from Stride Ventures and Indian Renewable Energy Development Agency (IREDA), as well as new investors including Mumbai Angels and other high-net-worth individuals (HNIs). Existing investors such as Kalyani Family Office, US India EV Angels, and We Founder Circle also participated in the fundraise. The company has so far raised INR 88 crore, including INR 72 crore (both in equity and debt) in the pre-Series A round. The funding will be used by the company mainly to scale its production capacity at the Bengaluru facility to 100,000 units per year. The firm will start delivering its electric motorcycle Rorr to customers in Bengaluru from next month. Oben also plans to use the funds to meet working capital needs and to expand distribution acros cities.
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