River, a Bengaluru-based electric scooter startup, said it has raised $11 million from investors led by US entrepreneur Chris Sacca’s Lowercarbon Capital.
The round also saw participation from Toyota’s early-stage venture capital arm, Toyota Ventures.
“Three of four vehicles sold in India are two-wheelers, but what’s available today have loud, dirty, gas-burning engines from the last century,” said Sacca, who has also invested in Twitter, Uber and Instagram. “River’s electric two-wheelers are the new go-to for Indian riders, because they’re faster, tougher and just plain cooler than anything else on the market.”
