EV Manufacturer Omega Seiki Secures ₹50 Cr for Capacity Expansion
Indian electric vehicle maker Omega Seiki Mobility (OSM) has raised ₹50 crore ($5.2 million) in a funding round. The capital will be used to expand manufacturing capacity and enhance research and development.
Indian electric vehicle manufacturer Omega Seiki Mobility (OSM) has secured ₹50 crore (approximately $5.2 million) in a fresh funding round from Saket Aggarwal Family Office, Securocorp Securities, and angel investors Sangeeta Pareekh and Vanshika Sharma.
The secured capital is earmarked for expanding manufacturing capacity, strengthening research and development efforts, and enhancing its nationwide dealer and service network. The company also plans to accelerate the rollout of its next-generation electric mobility solutions.
Founded in 2018 by Uday Narang, OSM manufactures electric vehicles across multiple categories, including two-wheelers, cargo and passenger three-wheelers, and commercial trucks. Its product line includes models like Rage+, Stream, and Mopido. The company operates production facilities in Faridabad and Pune.
OSM competes in the Indian market with manufacturers such as Mahindra Electric, Euler Motors, Altigreen, and Piaggio Vehicles. The funding comes as India's logistics sector increasingly embraces electrification, particularly for commercial mobility, driven by demand from e-commerce and FMCG companies and supported by government subsidies.