Bengaluru, India: Electric vehicle manufacturer River Mobility has secured $120 million in a Series C funding round, providing fresh capital to accelerate product development, expand manufacturing capacity and strengthen its retail network as the company prepares for its next phase of growth.
The Bengaluru-based electric mobility company said the latest investment will support the expansion of its manufacturing operations, the development of new products and the scaling of its distribution footprint across India.
The Series C round was led by Elev8 Venture Partners and Claypond Capital, with continued participation from existing investors including Yamaha Motor, Al-Futtaim Group and Mitsui & Co. River said the funding reflects investor confidence in its long-term strategy of building utility-focused electric two-wheelers and expanding domestic manufacturing capabilities.
According to the company, a significant portion of the capital will be used to increase production capacity. River plans to expand its existing manufacturing facility in Karnataka while also establishing a new plant capable of producing up to 80,000 electric scooters per month, substantially increasing output from its current capacity.
The company also intends to broaden its product portfolio. Following the launch of its Indie electric scooter, River is preparing additional premium utility-focused models as it looks to strengthen its position in India’s rapidly growing electric two-wheeler market.
Alongside manufacturing investments, River plans to expand its sales and service network, aiming to improve customer access and support as demand for electric mobility continues to rise across the country.
Founded in 2021, River has positioned itself around practical electric mobility solutions designed for everyday urban use. The company said the new investment will enable it to scale operations while continuing to invest in product engineering, manufacturing capabilities and customer experience.
The funding marks one of the larger private investments in India’s electric two-wheeler sector this year and comes as manufacturers increase investments in production infrastructure and new product development to meet rising consumer demand for electric vehicles.
Source: This article is based on an official press release issued by River Mobility
River Mobility secures $120 million in Series C funding, strengthening its next phase of product and manufacturing expansion
