Al-Futtaim Automotive leads $15m funding round in Indian EV startup, River

Al-Futtaim Automotive leads $15m funding round in Indian EV startup, River

Al-Futtaim Automotive has led the investment round valued at $15m in the Indian electric two-wheeler startup, River. The funding series will bolster River’s manufacturing and distribution networks for an August 2023 delivery kick-off in India, and will enable the company to rapidly scale internationally. Paul Willis, president of Al-Futtaim Automotive, shared, “We evaluated over 50 electric two-wheeler start-ups, and are impressed by the team’s vision and relentless commitment to in-house product development. I am confident that their products will see great success, in India and internationally.” Within a short span of two years since its inception, River launched its first product ‘Indie’ an urban electric scooter to rave reviews last February, having generated a fanbase within the automotive communities and global tech enthusiasts, which quickly translated into a wave of pre-bookings. Founded in March 2021 by Aravind Mani and Vipin George, River wants to offer a standout design and innovative technology through its electric scooters. Its first product, the Indie, is the result of 20 months of research and development. Green mobility is a major focus for , having recently launched the region’s first dedicated electric mobility focused company (Al-Futtaim Electric Mobility Company). Through the investment in River, Al-Futtaim Automotive