Oben Electrical, based in August 2020 by IIT and IIM alumni, is an R&D-focused startup based mostly in Bengaluru. The corporate designs, develops, and manufactures electrical bikes in-house, together with key EV elements. With over 25 years of collective expertise, Oben Electrical pioneers superior battery chemistry like LFP, providing safer and longer-lasting options.
Holding 18+ patents, the corporate is reshaping India’s electrical two-wheeler market and goals to turn into the world’s largest electrical bike OEM.
Final yr, the corporate raised Rs 40 crore ($4.9 million) in fairness and debt in an prolonged pre-series A spherical, bringing the entire spherical to Rs 72 crore ($8.9 million). The corporate has raised a complete of Rs 88 crore since inception.
The corporate presently has just one Electrical bike – the Oben Rorr obtainable in 2 completely different colours -Electrical Crimson, and Voltaic Yellow.
Oben Electrical just lately opened its eighth showroom in Pune. On World EV Day, the corporate introduced plans to launch 4 new electrical two-wheelers quickly, focusing on a various vary of Indian customers. These new fashions are anticipated to be priced between Rs 60,000 and Rs 1,50,000.
#7- Matter Motors
In 2019, Matter launched into a mission to drive the way forward for electrical mobility via technology-led, sustainable options. Regardless of the challenges of the COVID-19 pandemic in 2020, the corporate developed its prototype of the Matter AERA and launched liquid cooling know-how for enhanced efficiency and sturdiness.
Recognizing the significance of batteries within the EV ecosystem, they launched Matter Power as a devoted vitality storage division. In March 2023, the Matter Aera 5000 electrical bike was launched in India, marking the corporate’s first electrical bike. At the moment, that is the one Electrical bike provided by Matter Power. The corporate is based mostly in Ahmedabad, India.
In keeping with some sources, the electrical mobility startup has a post-allotment valuation of round $204 million.
Deliveries of the Matter Aera Electrical Bike have lastly begun. The model has set itself a goal of delivering 50,000 autos by March 2025. The corporate additionally plans to launch extra variants of the Aera 5000 in 2025.
#8- Hop Electrical
Hop Electrical, a climate-tech startup within the new vitality automotive sector, was based in 2020 by Ketan Mehta, Nikhil Bhatia, and Rahul Gupta. It emerged as a ahead integration of Rays Group’s $50+ million renewable vitality enterprise. The corporate focuses on delivering sustainable mobility options within the electrical automobile market.
Hop Electrical boasts a robust in-house R&D and manufacturing staff of 100+ members with state-of-the-art labs and a design studio on the Hop Launchpad in Jaipur. The corporate’s ‘Hop Megaplex’ facility has a capability of 1.2 lakh items yearly. With 150+ expertise facilities throughout 15+ states, Hop Electrical is a key participant below the federal government’s ₹26,058 Cr PLI Scheme. Additionally they maintain a captive NBFC license for financing electrical two-wheelers and raised $2.6 million in seed capital from a publicly listed energy electronics producer in Could 2022.
The HOP OXO: Excessive-Pace Electrical Bike is the one bike mannequin provided by the corporate presently. The remainder are high-speed and medium-speed electrical scooters.
Hop Electrical is growing a brand new electrical bike platform known as “Nimbus” to compete with standard engine bikes. The bike shall be just like the Hero Splendor and Bajaj Platina
#9- Orxa Energies
Orxa Energies, based in 2015 in Bangalore, focuses on constructing performance-driven electrical bikes and vitality programs. Their flagship mannequin, the Mantis, was launched in November 2023, after proving its reliability within the 13,500 km #ElectricBharatmala experience. The Mantis additionally turned the primary EV unveiled at India Bike Week.
Orxa plans to determine 100 charging stations on main highways and has partnered with Spare It, Bolt, and Nunam to reinforce the EV ecosystem. Nunam’s battery buyback service gives Orxa prospects a 40% value benefit, supporting sustainable vitality use.
The corporate can be planning to provide practically 20,000 items of the Mantis after its launch in India. Orxa Energies plans to arrange round 100 DC charging stations on main highways within the subsequent yr.
#10- Abzo Motors
ABZO Motors, based in 2018 in Gujarat by Kanchi, goals to supply fashionable and eco-friendly electrical bikes. Their first mannequin, the ABZO-VS01 electrical cruiser bike, was launched in 2023.
The corporate is about to increase its lineup with progressive new fashions. With a 17,069 sqm manufacturing plant, ABZO Motors is well-prepared to scale its operations and meet the rising demand for electrical autos, selling sustainable mobility.
