Bengaluru-based EV startup River has announced raising USD 15 million in funds, with Dubai-based Al Futtaim Group leading the funding round. Other investors include Lowercarbon Capital, Toyota Ventures, Maniv Mobility, and Trucks VC. The new capital injection will help River strengthen its manufacturing capabilities and launch its first product, the Indie, in the market. The e-scooter is scheduled for release in August. The company, founded by Aravind Mani and Vipin George in 2021, has already raised USD 13 million so far in seed funding and a Series A round. River’s Indie boasts a 60km range, 14-inch wheels, crash guards, and front foot-pegs, among other features.
EV Startup River Raises USD 15 Mn in Funding Round Led by Dubai-based Al Futtaim Group
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