- Electric two-wheelers are surging in India’s push towards net zero.
- Indian e-scooter startup River raised $40 million led by Yamaha Motor.
- Part of India’s rapidly electrifying segment, River’s locally built scooters promote sustainability.
Electric two-wheelers surge in India
Electric two-wheelers are gaining momentum in India’s push towards net zero carbon emissions, with the local e-scooter market projected to hit $750 million by 2025.
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River has secured $40M funds for expansions
Amid the rising interest, Indian electric scooter startup River recently closed a $40 million Series B funding round led by Yamaha Motor.
Founded in 2021, River develops and produces electric scooters out of Bengaluru. The company recently launched its first model, called Indie, and opened its first retail store last month.
River co-founder and CEO Aravind Mani said the new capital will help expand River’s distribution and service networks across India, plus fund R&D on new products.
The Yamaha Motor-led investment, which also included backers like Al-Futtaim Automotive and Toyota Ventures, brings River’s total funds raised to $68 million since March 2021.
The firm last raised an $11 million Series A round in 2022.
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Sustainability and zero-emissions
Part of India’s rapidly electrifying two-wheeler segment, River, and its locally developed e-scooters aim to promote sustainability and zero-emissions transportation options for the country’s expanding middle class.
River’s growth comes amid broader national efforts to incentivize electric vehicle adoption and work towards net zero.
