River Mobility Raises USD120 Mn in Series C Funding
Backed by new and existing investors, River Mobility is gearing up for its next growth phase with expanded manufacturing and product development.
River Mobility
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Founded in 2021 an electric two-wheeler manufacturer River Mobility raised USD120 million in a Series C funding round comprising equity and venture debt. The company said the funding will support its next phase of product development and manufacturing expansion.
The round marks River’s first major investment from Indian institutional investors, including Elev8 Venture Partners and Claypond Capital. Existing investors Yamaha Motor Co., Marubeni Ventures, Mitsui & Co., Al-Futtaim Group, Lowercarbon Capital, Toyota Ventures, Maniv Mobility and JIF Capital also participated.
River stated that it will use the fresh capital to expand capacity at its existing manufacturing facility, establish a new greenfield manufacturing plant, launch new products in the utility lifestyle segment, and invest in initiatives to improve gross margins and achieve EBITDA profitability.
“This funding marks an important milestone in River’s journey. The confidence shown by both our existing and new investors reinforces our belief that there is tremendous opportunity to build India’s first utility and design based mobility brand. This capital gives us the ability to accelerate our product roadmap, expand our manufacturing footprint and presence across the country.” said Aravind Mani, Co-founder & CEO, River Mobility.
“The electric two-wheeler market in India is entering a defining growth phase, driven by strong consumer adoption, improving economics, and increasing demand for differentiated products. River stands out for its sharp product thinking, exceptional execution capability, and a highly differentiated positioning in the market. Aravind, Vipin and the team have built a brand that resonates deeply with consumers looking for brilliant design, utility and durability. We believe River is well-positioned to emerge as one of the defining EV companies from India.” said Navin Honagudi, Managing Partner, Elev8 Venture Partners.
“River’s focus on building vertically integrated electric vehicle technology platforms has been a key driver of its success. Yamaha are proud to see the progress made by River so far and are excited about being part of the next phase of growth.” said Hajime Jim Aota, Chairman, Yamaha India Group.
Founded in 2021 an electric two-wheeler manufacturer River Mobility raised USD120 million in a Series C funding round comprising equity and venture debt. The company said the funding will support its next phase of product development and manufacturing expansion.
The round marks River’s first major investment from Indian institutional investors, including Elev8 Venture Partners and Claypond Capital. Existing investors Yamaha Motor Co., Marubeni Ventures, Mitsui & Co., Al-Futtaim Group, Lowercarbon Capital, Toyota Ventures, Maniv Mobility and JIF Capital also participated.
River stated that it will use the fresh capital to expand capacity at its existing manufacturing facility, establish a new greenfield manufacturing plant, launch new products in the utility lifestyle segment, and invest in initiatives to improve gross margins and achieve EBITDA profitability.
Entrepreneur Staff • Editor
Entrepreneur Staff
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