Electric vehicle manufacturer Omega Seiki Mobility has raised an additional ₹50 crore ($5.2 million) from investors to accelerate its scaling efforts across India and expand its footprint into new global markets.
- Second funding round within one month totaling ₹100 crore raised
- Plans to expand dealer touchpoints from 150 to 250 in India by FY28
- Focus on international growth, especially in Africa, with overseas manufacturing
What happened
Omega Seiki Mobility (OSM), an Indian electric vehicle manufacturer, has announced an additional ₹50 crore funding round led by Unistone Capital's director Abhishek Misra and supported by family offices including Sanjeev Agarwal and Brijesh Parekh. This follows a previous ₹50 crore raise in July involving angel investors and family offices. The capital will fund expansion in manufacturing, research and development, and a broader dealer and service network domestically.
Founded in 2018 by Uday Narang, OSM designs and manufactures electric two-wheelers, cargo and passenger three-wheelers, and light commercial trucks aimed primarily at commercial markets. Its EV portfolio includes models like Rage+, Stream, and Mopido. The company operates production facilities in Faridabad and Pune and recently initiated an overseas plant in Dubai last year to support international growth.
Why it matters
This fresh infusion of capital positions Omega Seiki as a versatile player in the growing Indian EV sector, competing not only in cargo vehicles but also in passenger and premium two-wheelers, distinguishing it from peers who focus more narrowly. The funding highlights investor confidence in the company’s ability to scale effectively and innovate in next-generation electric mobility solutions.
With India’s EV market entering a rapid growth phase, OSM’s expanded dealer network plans—from 150 to 250 touchpoints—demonstrate efforts to strengthen customer reach and service capabilities nationwide. Moreover, the company’s move to build an international presence, especially in African markets, reflects strategic ambitions to tap emerging EV demand beyond Indian shores, supported by its manufacturing foothold in Dubai.
What to watch next
Industry observers should monitor OSM’s ability to upscale manufacturing while maintaining profitability as it expands its product range and markets. Financially, the company reported FY26 revenue of ₹333 crore with a profit after tax of ₹7.3 crore and a 7.7% EBITDA margin, benchmarks that will be tested as the business pursues aggressive growth domestically and internationally.
Key areas to watch include how OSM develops its R&D capabilities to launch new electric vehicle models and technologies, the pace and effectiveness of dealer network expansion, and its success in entering and growing in target international regions, particularly Africa. These factors will shape its competitive positioning against established EV manufacturers like Mahindra Electric, Euler Motors, and others.