Oben Electric and EMO Energy have raised Series A rounds, while Gentari India is reportedly looking to raise $300-400 million to set up solar and wind power assets.
Oben Electric raises $5.8m
Bengaluru-based electric vehicle startup Oben Electric on Tuesday said it has raised Rs 50 crore ($5.8 million) in its Series A funding round.
The funding round saw participation from Ambis Holding US, Kuberan Ventures, Karimjee Group from Africa, Mission Vertical-US Based VC, Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office, and other existing investors.
The latest funding brings the total equity capital raised by the company to date to Rs 150 crore.
With this funding, the company aims to expand its existing distribution network to 100+ showrooms along with Oben Care service centres across 50 cities in India by FY2026. The company also plans to utilise these funds to expand its current product offerings.
EMO Energy snags $6.8m
Energy tech startup EMO Energy said it has raised $6.2 million in its Series A funding round led by Subhkam Ventures with participation from existing investor Transition VC.
Founded in 2022 by former Tesla, Rivian, Ather, and General Motors veterans Sheetanshu Tyagi and Rahul Patel, EMO Energy’s proprietary Cell Agnostic Tech stack, ZEN, claims to enable ultra-fast 20-minute charging while extending battery life to over five years.
The company will utilise the raised funds to scale its two- and three-wheeler energy solution to over 1 lakh vehicles over the next two years while advancing the deployment of 1 GWh of energy storage.
A portion of the funds will also be directed towards strengthening the company’s R&D capabilities for its proprietary battery health extension software, alongside expanding its team to meet growing operational demands.
Petronas arm Gentari India to raise $400m
Gentari India, the clean energy arm of Malaysian energy major Petronas, looks to raise $300-400 million to set up solar and wind power assets that will supply round-the-clock power for green ammonia production, Moneycontrol reported on Tuesday, citing people aware of the matter.
The funds proposed to be raised will be used to set up around 2,400 megawatts (MW) of solar and wind assets in Karnataka and Andhra Pradesh.
Gentari has hired investment bank BNP Paribas for this fundraising effort, the report added.
