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Electric commercial vehicle manufacturer Omega Seiki Mobility (OSM) has raised ₹50 crore in fresh funding as part of its strategic funding initiative. The investment was made at an undisclosed valuation and will support the company’s expansion in the electric mobility business, while also helping it evaluate its future plans for entering the public markets. The latest funding round was led by Abhishek Mishra, SKG Asset Management and Unistone Capital.
The funding round also saw participation from Sanjeev Aggarwal Family Office, Brajesh Parekh Family Office and SKG Fund, among other investors. Earlier this month, OSM had raised another ₹50 crore from Securocorp Securities, Sangeeta Pareekh, Saket Aggarwal Family Office and Vanshika Sharma. Founded in 2018 by Dr. Uday Narang, the company offers electric cargo three-wheelers, passenger vehicles, premium electric two-wheelers and electric light commercial vehicles.
OSM operates manufacturing facilities in Faridabad and Pune. The fresh capital will be used to increase manufacturing capacity, strengthen R&D, expand its dealer and service network, and accelerate the launch of next-generation electric mobility products. The company currently has around 150 touchpoints across India and plans to increase this number to 250 by FY28.
The company has also reported an improvement in its financial performance. OSM recorded revenue of around ₹333 crore in FY26, registering a 13% year-on-year growth. According to the company, it has also turned positive at the Profit After Tax (PAT) level. OSM is now focusing on balancing rapid expansion with scale, profitability and sustainable long-term growth.
Beyond India, OSM is exploring opportunities to expand into international markets, with Africa among its key target regions. In August 2025, the company announced plans to establish its first overseas manufacturing facility in Jafza, Dubai. Through its manufacturing capabilities, diversified product portfolio and distribution network, OSM aims to strengthen its presence in both the Indian and global electric mobility markets.
According to OSM, EV sales in India have increased nearly 46 times compared with 2016, while EV exports grew from USD 1.2 million in 2020 to USD 84 million in 2024. Government initiatives such as the National Manufacturing Mission, Production Linked Incentive (PLI) schemes and PM E-DRIVE are also supporting the development of the electric mobility ecosystem. The company expects expansion into passenger mobility, premium electric two-wheelers and electric light commercial vehicles to further strengthen its existing electric cargo three-wheeler business.
