Aditya Hadi Pratama · · 1 min readEarly Twitter backer’s VC firm backs Indian EV maker’s $11m round
River, an India-based electric vehicle maker, has raised US$11 million in a series A funding round led by Lowercarbon Capital, a VC firm founded by early Twitter, Uber, and Instagram investor Chris Sacca.
River co-founders Aravind Mani (left) and Vipin George / Photo credit: River
Toyota’s VC arm, Toyota Ventures, also participated in this round, which pushed River’s total funding raised to date to US$13 million.
River designs and builds electric two-wheelers, focusing on performance and style. The company was founded in late 2020 by Aravind Mani, a former executive of several petrochemical companies, and Vipin George, an ex-automobile designer for Honda. Both have also had experience working at EV firm Ultraviolette Automotive.
In March last year, River raised US$2 million in seed funding from two mobility-focused investors, Israel-based Maniv Mobility and San Francisco-based Trucks VC. The Bangalore-based firm currently has 100 engineers in its research and development team and has developed several prototypes that are currently being tested.
River plans to use the fresh funding for research and development, manufacturing, and hiring purposes.
Editing by Miguel Cordon and Jaclyn Tiu
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