Omega Seiki raises another Rs 50 Cr for Africa expansion

Omega Seiki has raised an additional Rs 50 Cr, about $5.2 Mn. Unistone Capital led the round. Abhishek Misra is a director at Unistone. The Sanjeev Agarwal Family Office and the Brijesh Parekh Family Office also participated.

This is the second Rs 50 Cr raise inside a month. A July 2026 round came from the Saket Aggarwal Family Office and Securocorp Securities. Two cheques of the same size, four weeks apart.

The company builds electric two wheelers, cargo and passenger three wheelers, and commercial trucks. Models include the Rage+, the Stream and the Mopido. It has 150 touchpoints across India today and plans 250 by FY28.

Expansion is pointed at Africa. An overseas manufacturing plant in Jafza, Dubai was established in August 2025.

FY26 revenue was Rs 333 Cr. Profit after tax was Rs 7.3 Cr. EBITDA margin was 7.7%.

The number under the headline

The funding line is the least interesting part of this. A profitable EV manufacturer is a rarer thing than the raise suggests. Rs 333 Cr of revenue, a 7.7% EBITDA margin and Rs 7.3 Cr of profit after tax describe a business that already works, with the money going to expansion rather than survival. Most of this sector is not there yet.

The operator angle sits in the product mix. Cargo three wheelers are the vehicle class most Indian intracity delivery actually runs on. Not vans, not bikes, once the load crosses a few hundred kilos and the route stays inside city limits. Every capacity addition in that class changes what your per drop freight cost looks like next year.

If your intracity freight rate went up at the last renewal, price a cargo three wheeler route against your current van contract on a per drop basis before you sign again. Ask for the cost per drop, not the cost per trip.