VC Fund Investments
Electric scooter maker River raises $15-M led by Dubai's Al Futtaim
Bengaluru-headquartered electric vehicle (EV) startup River has raised USD 15 million in a funding round led by Dubai-based Al Futtaim Group. Other investors who participated in the round include Lowercarbon Capital, Toyota Ventures, Maniv Mobility, and Trucks VC. The fresh capital will be used by the company to boost its manufacturing capabilities, strengthen distribution networks and also in the upcoming market launch of its electric scooter Indie in August. This is the third fund raised by the startup founded by Aravind Mani and Vipin George in March 2021, following a USD 2 million seed round in March 2021 and a USD 11 million Series A round in July 2022.
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