EV startup Oben Electric raises $4.9 million in funding

Oben Electric, a Bengaluru-based electric vehicle (EV) manufacturer, on Tuesday said it has raised Rs 40 crore ($4.9 million) in equity and debt in an extended pre-series A round, bringing the total round to Rs 72 crore ($8.9 million). The company has raised a total of Rs 88 crore since inception.

The debt investors in the latest round were Stride Ventures and the Indian Renewable Energy Development Agency (IREDA), who invested a total of $3 million.