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The capital infusion will help the company in scaling up its production capacity at the Bengaluru facility to 100,000 units per year as well as meet the working capital requirements for distribution expansion, it said.
EV startup Oben Electric on Tuesday said it has raised Rs 40 crore in an extended pre-series A round and also announced it will start delivering its electric motorcycle Rorr to customers in Bengaluru from next month.
The company has so far secured a total funding of Rs 88 crore, including Rs 72 crore (both in equity and debt) in the pre-Series A round, Oben said in a statement.
The funding will help Oben Electric increase production capacity to 1,00,000 units per year at its 3.5-acre manufacturing facility in Bengaluru, and expand distribution, per a statement.
Home interior solutions startup HomeLane said it closed a bridge round of INR 75 Cr (about $9.1 Mn) from its existing investors