Bengaluru-based electric two-wheeler manufacturer River Mobility has successfully closed its $120 million Series C funding round, marking one of the largest private investments in India’s electric two-wheeler (e2W) sector.
The fresh capital will be deployed to significantly expand the company’s existing manufacturing capacity while also establishing a new greenfield manufacturing facility, reinforcing River’s long-term commitment to domestic EV production.
Since commencing operations in 2023, River Mobility has rapidly strengthened its presence in the Indian electric mobility market. Backed by strategic investor Yamaha Motor Corporation, the company has grown its retail footprint to more than 75 stores and plans to expand this network to over 350 outlets by March 2028.
The announcement follows another major milestone for the company—production of 50,000 Indie electric scooters at its manufacturing facility in Hoskote, Karnataka, achieved in less than three years since production began in August 2023.
Commenting on the funding, Aravind Mani, Co-founder & CEO of River Mobility, stated that the investment will help accelerate the company’s product development roadmap, expand its manufacturing footprint, and strengthen its nationwide market presence.
The investment reflects growing investor confidence in India’s electric mobility ecosystem and highlights the increasing focus on advanced manufacturing, localization, and sustainable transportation.
Key Highlights:
🔹 Raised $120 million in Series C funding.
🔹 Funds to support manufacturing expansion and a new greenfield facility.
🔹 Backed by Yamaha Motor Corporation.
🔹 Retail network to expand from 75+ stores to 350+ by 2028.
🔹 Achieved 50,000 Indie e-scooter production milestone at Hoskote, Karnataka.
India’s EV manufacturing landscape continues to gain momentum, with companies investing aggressively in production capacity, technology, and nationwide distribution to meet the country’s rapidly growing demand for electric mobility.
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