River raised over twice the amount it secured in its previous funding round in 2023.
Bengaluru-based electric vehicle startup, River, successfully raised USD 40 million (Rs 332.23 crore) in its Series B funding round led by Yamaha Motor Co. Ltd. Other existing investors participating in this round were the Al Futtiam Group, who led the funding round held in 2023 followed by Lowercarbon Capital, Toyota Ventures and Maniv Mobility.
- River has raised USD 68 million since inception
- Gets a 4kWh battery pack with 120km IDC range
The startup launched its first product, the Indie electric scooter, in October 2023, which was entirely designed and developed at River’s R&D facility in Bengaluru. River opened its inaugural showroom in Bengaluru last month.
With USD 68 million (Rs 565 crore) raised so far, River’s plan is to expand its distribution and service network across the country. Unlike other e-scooters that are packed to the brim with technology, the relatively simpler River Indie’s USP is that it has a total of 55 litres of storage space on board (43 litres under the seat and a 12-litre glovebox). To know more about the Indie, tap here.
“We are impressed by the progress that River has achieved in such a short span of time, especially with the strong focus on design and technology. We are excited about the conviction that Aravind and Vipin have for River and how Yamaha can support the company to achieve this”, says Hajime “Jim” Aota, chief general manager of New Business Development Centre, Yamaha Motor Co. Ltd.