River Secures $120 Million In Series C Funding Led By Elev8 Venture Partners And Claypond Capital

River, an Indian electric vehicle startup, raised $120 million in Series C funding to scale manufacturing and launch more models. The round was led by Elev8 Venture Partners and Claypond Capital, with participation from Singularity AMC, Anicut Capital, 360 ONE Asset, JIF Capital, HDFC AMC, Yamaha Motor, Al-Futtaim Group, and Mitsui. Founded in 2021, River has raised $144 million to date and will use the funding to expand production of its Indie electric moped and support its next phase of growth. Founder and CEO Aravind Mani said the company’s focus has been on scaling manufacturing, increasing output from 20 vehicles per day to 300 vehicles per day. FOUNDERS: Aravind Mani & Vipin George INVESTORS: Elev8 Venture Partners, Claypond Capital, Singularity AMC, Anicut Capital, 360 ONE Asset, JIF Capital, HDFC AMC, Yamaha Motor, Al-Futtaim Group & Mitsui ROUND: Series C AMOUNT: $120,000,000 HQ: Bengaluru, Karnataka, India #VentureCapital #River #AravindMani #VipinGeorge #TradedVC