- The funds will be used to expand River’s distribution and service networks across India
- Established in March 2021 by Aravind Mani and Vipin George, River has garnered support from renowned investors
In a Series B funding round, River, an innovative electric vehicle (EV) startup, has secured $40 million with Yamaha Motor Corp, Japan, taking the lead as the main investor.
This company has also received investments from Al Futtaim Group, Lowercarbon Capital, Toyota Ventures, and Maniv Mobility.
The funds will be used to expand River’s distribution and service networks across India and to boost investment in R&D for upcoming product developments.
Hajime “Jim” Aota, Chief General Manager of New Business Development Centre, Yamaha Motor Co., Ltd., said, “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.”
Established in March 2021 by Aravind Mani and Vipin George, River has garnered support from renowned investors including Yamaha Motor Co., Ltd., the Dubai-based Al Futtaim group, Chris Sacca’s Lowercarbon Capital, Toyota Ventures, Maniv Mobility, and Trucks VC.
Commenting on the fundraiser, Aravind Mani, Co-founder and CEO of River, said, “The investment is a significant boost for our plan to build a billion-dollar global utility-lifestyle brand by 2030. We have built a great base in R&D and manufacturing over the last two years; now, it’s time to grow.”
