Two-wheeler EV maker OBEN EV raised an additional $1 million in seed funding from Krishna Bhupal of GVK Power and Infra, and Shajikumar Devakar of IIFL Wealth and other investors. The company had previously raised $1.5 million in December 2021 led by We Founders Circle (WFC).
The startup will use the funds to expand their business capacity, set up 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, the company said.