New Delhi, Jan. 7 -- Bengaluru-based clean energy startups EMO Energy and Oben Electric have secured funding of about $6 million (over Rs 50 crore) each in separate Series A investment rounds, while Moonrider raised seed investment to strengthen its technology.

EMO Energy

EMO Energy, a Bengaluru-based startup providing battery software and hardware solutions, has secured $6.2 million (Rs 53 crore) in its Series A investment round led by Subhkam Ventures. Existing investor Transition VC also participated in the round.

In 2023, it raised $1.2 million in a seed round co-led by Transition VC and Gruhas.

The funds raised will be used to scale its energy solution for two and three-wheel vehicles to over 1 lakh vehicles over the next two years, while advancing the deployment of 1 gigawatt hours of energy storage, the company said. A portion of the funds will go towards research expenses for its battery health software and expanding the size of the team.

The startup was founded in 2022 by former Tesla, Rivian, Ather, and General Motors veterans Sheetanshu Tyagi and Rahul Patel.

Its proprietary technology stack, ZEN, provides charging in 20 minutes, fireproof designs, and over 3,000 charging cycles for two and three-wheeler commercial electric vehicles. EMO claims to have already deployed over 2,000 battery packs in the mobility segment.

Oben Electric

Homegrown electric motorcycle manufacturer Oben Electric has closed a Series A round of funding, raising as much as Rs 50 crore ($5.8 million) to fuel its expansion across India.

The Bengaluru-headquartered saw participation from Ambis Holding US, Kuberan Ventures, Tanzania-based Karimjee Group, US-based early-stage VC Mission Vertical, family office of Polyplex founder Sanjeev Saraf, Pravek Kalp Family Office, and other existing investors.

The company in 2023 raised pre-Series A cash from a clutch of investors including Stride Ventures.

With the latest round, the startup has raised Rs 150 crore in equity funding. The company seeks to increase its existing distribution network to more than 100 showrooms along with Oben Care service centres across 50 cities in India by FY26, Oben said.

Founded in 2020, Oben Electric is an EV maker which designs, developing and manufacturing electric two-wheeler indigenously. It was set up by Sagar Thakkar, Dinkar and Madhumita Agrawal in Bengaluru.

Moonrider

Electric vehicle startup Moonrider has raised $2.2 million in a seed funding round, co-led by AdvantEdge Founders and Micelio Technology Fund, along with a host of angel investors.

The Bengaluru-based company, which makes heavy-duty electric tractors at reduced operational costs for farmers and fleet operators, will use the funds to drive innovation and build strong capabilities in vehicle engineering, vehicle software and battery technology.

The startup was founded in 2023 by Anoop Srikantaswamy and Ravi Kulkarni who have worked in vehicle engineering and electric vehicle R&D from the Volvo Group, Ola Electric, and Olectra BYD.

Published by HT Digital Content Services with permission from VC Circle.