Bengaluru-based begin up, River, has raised USD 15 million in a spherical of funding, led by the Al Futtaim Group. The Al Futtaim Group is a big conglomerate that has dealerships and distribution channels for a lot of globally identified automotive manufacturers corresponding to Toyota, Lexus, Honda and Jeep. Existing buyers Lowercarbon Capital, Toyota Ventures, Maniv Mobility, and Trucks VC additionally participated on this spherical. 

The newly secured capital will increase the corporate’s manufacturing course of and assist it keep on the right track for its product’s upcoming market launch, in August 2023. The new funding marks River’s third spherical, following a USD 2 million seed spherical in March 2021 and a USD 11 million Series A spherical in July 2022.

We discovered the River Indie to be fairly a powerful product after we obtained an opportunity to stand up shut with it and to see our walkaround video and listen to our first impressions, click on right here. The Indie is the one e-scooter to run on 14-inch wheels at each ends and it’s designed to place practicality over outright sporting intentions. To see how the Indie stacks up in opposition to the main Indian e-scooters on paper, click on right here. 

Also See:

River Indie e-scooter: your questions answered

Opinion: Is it actually that Simple?