River, an EV startup from India, is creating ripples in the EV market with a $40M capital infusion in its latest funding round. This venture, buoyed by the backing of Yamaha Motor and a consortium of investors, is setting the stage for a greener, more sustainable India.
- Innovative Product: Introducing Indie—dubbed the “SUV of scooters”—with a roomier 14-inch wheelbase and ample cargo space capable of accommodating two helmets and a 33-pound payload.
- Robust Funding: The Series B all-equity funding round, adding to a total of $68M raised to date, propels the startup’s growth goals, as they accelerate R&D efforts and market expansion.
- Strategic Expansion: Planning to surge production to 3,000 units per month by the end of 2024, River eyes an extensive footprint of 100 cities by March 2026.
- R&D and Manufacturing: Over $25M invested in this domain demonstrates the company’s commitment to designing vehicles that resonate with India’s evolving consumer needs.
- Partnerships with Purpose: Alliances with Al-Futtaim Group and potentially Yamaha, could extend River’s reach to a global distribution network.
Led by co-founders Aravind Mani and Vipin George, River embodies a blend of design excellence and technological innovations aimed at reinforcing India’s EV landscape.
