VC Fund Investments
EV startup River raises $11-M in Series A funding round
Bengaluru-based electric two-wheeler company River has raised USD 11 million in a Series A funding round led by well known US-based investor Chris Sacca founded Lowercarbon Capital, with participation from Toyota Ventures. Founded in 2020, River's first product is a multi-utility electric scooter, entirely designed and built in India, which it plans to launch by the end of 2022 or early 2023. River aims to set up a 120,000 sq ft manufacturing facility that can build 100,000 vehicles. The new funds will be used to expand its team, invest in R&D, set up a manufacturing facility and get its first product ready for sales.
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