River raises $120M Series C to scale EV scooters

Indian electric vehicle startup River has raised $120 million in a Series C round. The company will use the funds to scale production and launch more models beyond its current single-product line.

River makes electric two-wheelers and has so far grown on the strength of one scooter model. The new capital is meant to expand its manufacturing capacity and broaden its product lineup.

India is one of the world's largest two-wheeler markets, and electric adoption is accelerating. River is betting that additional models and greater production can capture more of that shift.

Fresh capital flowing into an Indian EV two-wheeler maker underscores investor appetite for electrified transport in emerging markets — where scooters and motorcycles dominate daily commutes and offer a clearer path to mass EV adoption than cars.