PE Fund Investments
EV scooter maker River raises $40-M from Yamaha Motor, existing investors
Bengaluru-based electric scooter maker River has raised USD 40 million in a Series B funding round led by Yamaha Motor Co and existing investors such as UAE-based Al-Futtaim Automotive, Lowercarbon Capital, and Toyota Ventures. The firm will use the funding to scale its distribution and service network across the country, as well as for research and development of its future products.River plans to enter Hyderabad, Chennai, Bengaluru, Mumbai, Pune, Ahmedabad, and Thiruvananthapuram. Its 120,000-square-foot manufacturing facility is located in Hoskote, on the outskirts of Bengaluru. River's first product Indie, an e-scooter, retails at INR 1.38 lakh.
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