River, a start-up for electric two-wheelers, has raised $11 million in a funding round led by Chris Sacca’s Lowercarbon Capital in participation with Toyota Ventures, bringing the total funding to $13 million (Rs 100 crore).<\/p>\n
The company said it would use the Series A funding to set up a manufacturing facility, get its first product ready, expand its team, and invest in R&D. The Bengaluru-based company raised its seed round of $2 million in March 2021 from mobility-focused venture capital funds: Israel-based Maniv Mobility and San Francisco\u2019s Trucks VC. It is the only Indian investment of the two funds.<\/p>\n
“Three of four vehicles sold in India are two-wheelers, but what’s available today have loud, dirty, gasburning engines from last century. River’s electric two-wheelers are the new go-to for Indian riders because they’re faster and tougher, than anything else on the market,” said Sacca, managing partner at Lowercarbon Capital, which is known for investments in early-stage technology companies like Twitter, Uber, and Instagram.<\/p>\n
Jim Adler, founding managing director of Toyota Ventures, said two-wheeled vehicles are the foundation of mobility in India and a huge worldwide market principally. “We think River will capture this massive opportunity by offering high-quality, affordable, and stylish all-electric two-wheeled vehicles for both consumer and commercial use,\u201d said Adler.<\/p>\n
“Our first electric two-wheeler is designed with a broad usage spectrum in mind. We are reimagining how people ride and carry their world on two wheels,” said Vipin George, co-founder of River.<\/p>\n","protected":false},"excerpt":{"rendered":"
River, a start-up for electric two-wheelers, has raised $11 million in a funding round led by Chris Sacca’s Lowercarbon Capital in participation with Toyota Ventures, bringing the total funding to $13 million (Rs 100 crore). The company said it would use the Series A funding to set up a manufacturing facility, get its first product ready, expand its team, and invest in R&D. The Bengaluru-based company raised its seed round of $2 million in March 2021 from mobility-focused venture capital funds: Israel-based Maniv Mobility and San Francisco\u2019s Trucks VC. It is the only Indian investment of the two funds. “Three […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-511567","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/511567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=511567"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/511567\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=511567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=511567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=511567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}