Indian Two Wheeler Start-up River Secures $40 Million in Funding from Yamaha Motor
In a significant development within the electric vehicle (EV) sector, Indian startup River, specializing in electric two-wheelers, has successfully secured $40 million in funding. This funding round, designated as Series B, was led by Yamaha Motor Co, Ltd., demonstrating a strong endorsement of River’s potential and the EV market in India.
- Indian electric two-wheeler startup, River, secures a significant $40 million in Series B funding.
- Yamaha Motor Co., Ltd. leads the funding round, emphasizing confidence in River’s potential.
- Funds to be allocated towards research, development, and market expansion of River’s innovative electric “SUV” two-wheeler.
- Strong investor participation from existing backers underscores growing interest in EV technology.
- River’s cumulative funding reaches $68 million across four rounds, reflecting a promising trajectory in India’s EV market.
Yamaha Motor’s Strategic Investment
Yamaha Motor Co., Ltd. (Tokyo: 7272) has made a strategic investment in River as part of its Series B funding round. This investment reflects Yamaha’s commitment to expanding its presence in the EV sector and aligning with its broader sustainability objectives.
1. River’s Innovative Approach
River, known for its innovative approach to electric scooter manufacturing, has quickly emerged as a key player in India’s electric two-wheeler market. With the formation of River Mobility Private Limited in Bengaluru, the company is well-positioned to cater to the increasing demand for eco-friendly transportation solutions in India.
2. Utilization of Funds
The $40 million raised in this funding round will primarily be allocated towards increasing research and development expenditure and expanding the market presence of River’s first electric “SUV” two-wheeler in India. This strategic allocation underscores River’s commitment to innovation and growth in the EV sector.
3. Investor Participation
Apart from Yamaha Motor, River’s Series B funding round saw participation from existing investors, including Al-Futtaim Automotive, Lower carbon Capital, Toyota Ventures, Trucks Venture Capital, and Maniv Mobility. This collective support further validates River’s potential and underscores the growing interest in electric vehicle technology.
4. Cumulative Funding
With this latest funding, River has cumulatively raised $68 million across four rounds. This includes the previous round of $15 million announced in June, reflecting the confidence of investors in River’s vision and capabilities.
River’s ambitious plans, coupled with strong backing from major investors, highlight the increasing interest and investment in electric vehicle technology, particularly in the two-wheeler segment. As the world transitions towards more sustainable transportation options, startups like River are at the forefront of driving innovation and development in the EV industry.