EV start-up raises fund to expand biz

Oben Electric, 2-wheeler EV Startup has raised an additional $1 million in funding from Krishna Bhupal, Board Member GVK Power & Infra, Shajikumar Devakar, ED IIFL Wealth & other investors. Having received $1.5 million in Dec 2021 led by We Founders Circle (WFC), the start-up has now been oversubscribed 3x times making it one of the largest seed rounds raised by an electric 2-wheeler startup. Oben Electric will use the capital raised to expand their business capacity, setup a bigger manufacturing infrastructure, accelerate new product development, expand experience centres, and strengthen their distribution plans, as the foundation to create the platform for the coming period to create value for the business in the ecosystem.