Yamaha invests Rs 332 cr in EV startup River

Bengaluru-based electric vehicle (EV) startup, River, on January 6 raised Rs 332.23 crore in its Series B funding

Bengaluru-based electric vehicle (EV) startup, River, recently completed its Series B funding round, raising Rs 332.23 crore. The funding was led by Yamaha Motor Co. Ltd, with participation from existing investors Al-Futtaim Automotive, Lowercarbon Capital, Toyota Ventures, and Maniv Mobility.

This brings the total amount raised by River to USD 68 million. River offer pre-order price for Bengaluru customers was Rs. 1.25 lakh (inclusive of FAME II subsidy).

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River’s manufacturing facility, spanning 12,000 sq ft, is located in Hoskote, outside Bengaluru in Karnataka state. The company has also opened its first showroom in Bengaluru, with plans to expand further.

A significant portion of the funds raised will be allocated towards expanding River’s network across India, including distribution and service networks in metropolitan cities and major Tier-1 and Tier-2 cities. River Indie, the company’s flagship product, was designed and developed in Bengaluru.

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River, a Bengaluru-based electric vehicle

It is known for its practical and utilitarian approach to urban electric mobility, offering the highest utility and best-in-class storage capacity. Additional storage boxes are also available as accessories to enhance the scooter’s utility.

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Specs & Specifications

River Indie is the inaugural product of the company. It was designed and developed entirely in Bengaluru, where River’s R&D facility is located. The launch of River Indie took place last year, and since then, we have taken it for a spin around Bengaluru.

If you are interested, you can find our detailed review of the first ride experience with River Indie here. Indie takes a practical and utilitarian approach to urban electric mobility. It is marketed as the SUV of electric scooters, offering the highest utility among its counterparts.

One of its standout features is the impressive built-in storage capacity, with 43L of space under the seat and an additional 12L glovebox behind the front apron. The apron also features a dual barrel LED headlight setup, reminiscent of Yamaha NEO’s design. To further enhance the scooter’s utility, River provides additional storage boxes as accessories.

These accessories take Indie’s functionality to a whole new level. Additionally, there are three vibrant color options available – Spring Yellow, Summer Red, and Monsoon Blue, catering to the preferences of the younger generation.

Powering River Indie is a 4 kWh battery, which drives a mid-mounted electric motor with 9 bhp and 26 Nm of torque. The scooter claims to offer a real-world range of 120 km on a single charge, making it suitable for daily commuting needs.

Notable features include front and rear disc brakes, CBS (Combi Brake System), RSU telescopic front forks, rear twin shock absorbers, and 14-inch alloy wheels, among others.

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