EV Manufacturer Omega Seiki Nets ₹50 Cr To Expand Capacity
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Electric vehicle manufacturer Omega Seiki Mobility (OSM) has secured ₹50 Cr ($5.2 Mn) in a fresh funding round from Saket Aggarwal Family Office, Securocorp Securities, angel investors Sangeeta Pareekh and Vanshika Sharma.
The startup said that the fresh capital will be used to expand manufacturing capacity, strengthen research and development, enhance its nationwide dealer and service network, while also accelerating the rollout of next-generation electric mobility solutions.
Founded in 2018 by Uday Narang, OSM is an EV manufacturer working across multiple vehicle categories including two-wheelers, cargo and passenger three-wheelers, and trucks tailored for commercial use. Its EV models include Rage+, Stream, and Mopido.
It is part of a consortium of global family-owned businesses, The Anglian Omega Network, which is present in 6 countries, namely India, UAE, Switzerland, Thailand, Japan and Hong- Kong. Anglian Omega Group consists of more than 20 companies.
OSM competes with players such as Mahindra Electric, Euler Motors, Altigreen, and Piaggio Vehicles. While its peers largely doubled down on cargo EVs, OSM built a broader product stack across cargo three-wheelers, passenger EVs, premium two-wheelers, and light commercial vehicles.
With production facilities in Faridabad and Pune, OSM said that it is expanding its footprint across cargo three-wheelers, passenger vehicles, premium electric two-wheelers, and electric light commercial vehicles.
Prior to this round, the Delhi NCR-based startup raised $3 Mn in a seed round led by EXEDY.
On the financial side, OSM said that its FY26 revenue stood at ₹333 Cr, and its profit after tax was ₹7.3 Cr, with a 7.7% EBITDA margin.
The fundraise comes at a time when India’s logistics sector continues to see electrification gather pace, particularly in commercial mobility. EV manufacturers are gaining huge demand from ecommerce and FMCG companies, and subsidy support under PM E-DRIVE schemes, convincing investors for bigger bets in these businesses.
For instance, electric commercial vehicle maker Euler Motors raised ₹437.5 Cr ($47 Mn) in a Series E funding round in March, to expand its product line as well as manufacturing capacity.
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