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Bengaluru-based electric two-wheeler startup River has raised $120 million in a Series C round backed by existing investors Yamaha Motor and Mitsui alongside new backers. The funding will expand manufacturing beyond current 5,000 monthly units and grow River's retail footprint past 350 stores by March 2028.
Nothing on a spec sheet yet, but this is the stretch where you get to imagine the model lineup this funding eventually unlocks. Knowing this $120 million builds on what the River Indie already proved makes me that much more curious about what comes next.
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Is 5,000 units a month actually a big number?
For a scooter startup, that's actually on the high side
Big EV two-wheeler funding rounds, this trend isn't slowing down
Expanding to 350 stores sounds like it could easily fall through
Yamaha and Mitsui staying in as investors gives it some credibility though
$120M is one of the biggest India EV rounds this year
