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River Mobility

Electric Two-WheelersBengaluru, India

River Mobility manufactures electric two-wheelers in India, built around utility and storage rather than performance. Its single model, the Indie, launched in 2023 and is marketed as the SUV of scooters. It also manufactures the Yamaha EC-06 in Karnataka.

1StartupFox story
2021Founded
Electric Two-WheelersSector
Aug 2026Latest coverage

Funding

River Mobility has raised $188M across 5 disclosed rounds.

$188MRaised
$120MLatest round
$200MValuation
5Events
RoundAug 2026reported
$120M
InvestorsElev8 Venture Partners, Claypond Capital, Singularity AMC, Anicut Capital, 360 ONE Asset, JIF Capital, HDFC AMC, Yamaha Motor, Al-Futtaim Group, Mitsui & Co, Alteria Capital, InnoVen Capital, Stride Ventures
Valuation$200M (reported in February when the round was planned at $80M; not confirmed at close)
Tap any bar to see that round
$200M (reported in February when the round was planned at $80M; not confirmed at close)
Aug 2026Round$120MElev8 Venture Partners, Claypond Capital, Singularity AMC, Anicut Capital, 360 ONE Asset, JIF Capital, HDFC AMC, Yamaha Motor, Al-Futtaim Group, Mitsui & Co, Alteria Capital, InnoVen Capital, Stride Ventures $200M (reported in February when the round was planned at $80M; not confirmed at close)startupfox.in ↗
Feb 2024Round$40MYamaha Motor, Al-Futtaim Automotive, Lowercarbon Capital, Toyota Ventures, Trucks VC, Maniv Mobilitytechcrunch.com ↗
Jun 2023Round$15MAl-Futtaim Group, Lowercarbon Capital, Toyota Ventures, Maniv Mobility, Trucks VCtechcrunch.com ↗
Jul 2022Round$11MLowercarbon Capital, Toyota Ventures, Maniv Mobility, Trucks VC $32.5Mcbinsights.com ↗
Mar 2021Round$2MNot disclosedtechcrunch.com ↗

Valuation journey

Price marks from disclosed rounds, last reported at $200M (unconfirmed).

$55M$110M$165M$221M $33M$200M JUL 2022AUG 2026
◉ Disclosed at round◌ Reported, unconfirmed
Round · $120MAug 2026reported
$200M
Step-up6.2× vs Jul 2022
$200M (reported in February when the round was planned at $80M; not confirmed at close)
Tap any mark to see that valuation

Investor roster

Every disclosed backer and how often they've written a cheque — repeat names are the strongest conviction signal on the cap table.

New · Latest leadElev8 Venture Partners1 round · 2026
Lowercarbon Capital3 rounds · since 2022
Maniv Mobility3 rounds · since 2022
Toyota Ventures3 rounds · since 2022
Trucks VC3 rounds · since 2022
Al-Futtaim Group2 rounds · since 2023
Yamaha Motor2 rounds · since 2024
360 ONE Asset1 round · 2026
Alteria Capital1 round · 2026
Anicut Capital1 round · 2026
Claypond Capital1 round · 2026
HDFC AMC1 round · 2026
InnoVen Capital1 round · 2026
JIF Capital1 round · 2026
Mitsui & Co1 round · 2026
Singularity AMC1 round · 2026
Stride Ventures1 round · 2026
Al-Futtaim Automotive1 round · 2024
Aggregated automatically from the disclosed rounds above.

Financials

Revenue and profit after tax as filed with the Registrar of Companies.

FY25Revenuefiled
₹104 Cr
PAT₹196 Cr loss
EBITDA
Growth+1980% YoY
Basisstandalone
Operating revenue rose roughly 21x on sales of 6,157 units. The CEO stated a loss of ₹176 crore in April 2025; later reporting from filings puts it at ₹196 crore.
Tap any bar to see that year
₹ figures as filed, not restated

Leadership

AMAravind ManiCo-founder · CEOVGVipin GeorgeCo-founder

The River Mobility journey

Mar 2021 · funding
Round — $2M, led by Not disclosed.
Mar 2021 · founded
Founded in Bengaluru by Aravind Mani and Vipin George to build electric two-wheelers for Indian conditions. ↗
Jul 2022 · funding
Round — $11M at $32.5M, led by Lowercarbon Capital.
Feb 2023 · milestone
Launches the Indie, a utility-focused electric scooter with 14-inch wheels and cargo space for two helmets. Sales begin in October 2023. ↗
Jun 2023 · funding
Round — $15M, led by Al-Futtaim Group.
Feb 2024 · funding
Round — $40M, led by Yamaha Motor.
Jan 2026 · milestone
Begins manufacturing the Yamaha EC-06 electric two-wheeler at its Karnataka plant, converting its Series B investor relationship into contract manufacturing. ↗
Aug 2026 · funding
Round — $120M, led by Elev8 Venture Partners.

The rest of River Mobility's profile is free

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Latest on River Mobility

Funding
River Mobility Raises $120 Million Series C Led by Elev8 Venture Partners and Claypond Capital
5 AUG 2026 · 6 MIN READ

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Frequently Asked

What is River Mobility?

River Mobility manufactures electric two-wheelers in India, built around utility and storage rather than performance. Its single model, the Indie, launched in 2023 and is marketed as the SUV of scooters. It also manufactures the Yamaha EC-06 in Karnataka.

Who founded River Mobility?

River Mobility is associated with Aravind Mani, Vipin George.

How much funding has River Mobility raised?

River Mobility has raised $188M across 5 disclosed rounds. The most recent was a $120M round in Aug 2026.

Who are River Mobility's investors?

Disclosed investors in River Mobility include Elev8 Venture Partners, Claypond Capital, Singularity AMC, Anicut Capital, 360 ONE Asset, JIF Capital, HDFC AMC, Yamaha Motor, Al-Futtaim Group, Mitsui & Co, Alteria Capital, InnoVen Capital.

What is River Mobility's valuation?

River Mobility was last reported at $200M (reported in February when the round was planned at $80M; not confirmed at close), at the time of its round in Aug 2026.

Is River Mobility profitable?

Per its FY25 standalone filing, River Mobility reported ₹104 Cr in revenue, with a ₹196 Cr loss.

What is the latest news on River Mobility?

The most recent StartupFox coverage is “River Mobility Raises $120 Million Series C Led by Elev8 Venture Partners and Claypond Capital” (5 August 2026). All stories are listed on this page.