River, a Bengaluru, India-based startup building multi-utility electric scooters, raised $40M in Series B funding.
The round was ed by Yamaha Motor Co., Ltd. The round also saw participation from existing investors Al-Futtaim Group, Lowercarbon Capital, Toyota Ventures and Maniv Mobility.
The company intends to use the funds to scale the distribution and service network across the country and invest further in R&D for future lineup of products.
Led by CEO Aravind Mani, and CPO Vipin George, River is an electric vehicle startup building high-quality mobility solutions designed to improve the livelihoods of people around the world. The first product is an electric two-wheeler designed and built in India for the world. River started selling its first product, Indie, in October-2023. Indie was fully designed and developed at the River R&D facility in Bengaluru and manufactured in the River Factory at Hoskote in the outskirts of the city. The first River store opened in Bengaluru in January 2024.
FinSMEs
08/02/2024