Yamaha invests $20 million in electric 2-wheeler startup River

The Bangalore-based EV startup has raised $68 million since 2021.

Yamaha has invested $20 million in Bangalore-based startup River.

Yamaha, along with existing investors Al Futtaim Group, Lowercarbon Capital, Toyota Ventures and Maniv Mobility, have poured $40 million into River as part of the Series B round.

Hajime “Jim” Aota, Chief General Manager of New Business Development Centre, Yamaha Motor Co. Ltd., said, “We are impressed by the progress that River has achieved in such a short span of time, especially with the strong focus on design and technology. We are excited about the conviction that Aravind and Vipin have for River and how Yamaha can support the company to achieve this.”

River has raised a total of $68 million since 2021. The company plans to use the funds to develop new models and expand its sales and service network across India.

Source: Moneycontrol