River EV raises $40 million in Series B led by Yamaha Motor Co
Bengaluru-based EV start-up River has raised $40 million (Rs 335 crore) in Series B led by Yamaha Motor Corporation, Japan. The round also saw participation from existing investors Al-Futtaim Automotive, Lowercarbon Capital, Toyota Ventures and Maniv Mobility.
The company started selling its first product Indie, the SUV of scooters in October 2023. Indie was fully designed and developed at the River R&D facility in Bengaluru and manufactured at its factory at Hoskote in the outskirts of Bengaluru. The first River store opened in Bangalore in January 2024.
