River Mobility has raised $120 million in a Series C of equity and venture debt led by Elev8 Venture Partners and Claypond Capital, its first major backing from Indian institutional investors.
Under 10 to 12% of the round was venture debt, and the equity was entirely primary with no secondary sales, according to the chief executive.
FY25 filings show operating revenue of ₹104 crore against a loss of ₹196 crore, with revenue up roughly 21 times from ₹5 crore in FY24 and losses more than doubling from ₹83 crore.
River sells around 5,000 units a month by its own count. Its chief executive now puts operational profitability at 20,000 to 25,000 units a month by 2028, up from the 15,000 to 20,000 he cited a ye…
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