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Yamaha Motor fuels River’s ambitious electric SUV two-wheeler rollout in India
River, an Indian startup manufacturing electric two-wheelers, has raised $40 million in a funding round led by Japan's Yamaha Motor as the nearly River, an Indian startup manufacturing electric two-wheelers, has raised $40 million in a fresh round led by Japan's Yamaha Motor.
The all-equity Series B round also saw participation from startup’s existing investors, including Futtaim Automotive, Lowercarbon Capital, Toyota Ventures, Trucks VC and Maniv Mobility. Since its founding in March 2021, River has focused on developing and producing electric two-wheelers for Indian customers, a burgeoning and rapidly evolving market in a country keen to replace diesel and gas-powered vehicles with EVs. “By the time we are a five-year-old company in March 2026, we want to be in 100 cities and come to a scale of selling around 9,000 vehicles a month, which is approximately $200 million in turnover,” Aravind Mani, co-founder and CEO of River, said in an interview.
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