New Delhi: Electric Two-Wheeler start up above EV On Monday it said it has raised $1.5 million (over Rs 10 crore) in a seed round from V Founder Circle and others as it plans to launch its first product in the next six months. The seed round investment saw participation from notable investors in V Founder Circle – a global network of entrepreneurs and strategic investors who invest in early-stage companies.
These include Life Elements co-founder Rakesh Somani, serial investor Gaurav Juneja, Rajesh Motors Managing Director Siddharth Shah, besides other key ambassadors such as Sumeet Pathak and Dr. Milan Modi, the company said in a statement.
above EV Will use the newly raised funds to launch its product in the market, accelerate new product development and expand experience centers, as it seeks to strengthen its expansion plans.
The company claims that it is developing a electric bike Which runs 200km on a single charge with a top speed of 100km/h and over 16 patented innovations to improve product performance, customer experience and data analysis.
Madhumita Aggarwal, Co-Founder, Oben EV said, “We are very excited to raise the seed round as this fund will help us enter the market with a fully indigenous and indigenously developed performance motorcycle and help our customers with our Will deliver the first set of vehicles in the next six months.”
Gaurav VK Singhvi, co-founder, V Founder Circle, said that EVs are in the early stages in India – and the real opportunity will be in electric two-wheelers.
“What we need today is a seamless transition to EVs. Oben EV will be one of the start-ups that will set the right benchmark for the growth of the EV industry in India,” he added.
The startup plans to introduce four new products in different sectors in the next 2 years.
These include Life Elements co-founder Rakesh Somani, serial investor Gaurav Juneja, Rajesh Motors Managing Director Siddharth Shah, besides other key ambassadors such as Sumeet Pathak and Dr. Milan Modi, the company said in a statement.
above EV Will use the newly raised funds to launch its product in the market, accelerate new product development and expand experience centers, as it seeks to strengthen its expansion plans.
The company claims that it is developing a electric bike Which runs 200km on a single charge with a top speed of 100km/h and over 16 patented innovations to improve product performance, customer experience and data analysis.
Madhumita Aggarwal, Co-Founder, Oben EV said, “We are very excited to raise the seed round as this fund will help us enter the market with a fully indigenous and indigenously developed performance motorcycle and help our customers with our Will deliver the first set of vehicles in the next six months.”
Gaurav VK Singhvi, co-founder, V Founder Circle, said that EVs are in the early stages in India – and the real opportunity will be in electric two-wheelers.
“What we need today is a seamless transition to EVs. Oben EV will be one of the start-ups that will set the right benchmark for the growth of the EV industry in India,” he added.
The startup plans to introduce four new products in different sectors in the next 2 years.
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