River Mobility raises $120M to expand Indian retail network beyond 350 stores
Electric scooter maker River Mobility has raised $120 million in Series C equity and venture debt, led by Elev8 and Claypond Capital. The company, which operates more than 75 stores, aims to exceed 350 locations by March 2028 while expanding manufacturing and launching new utility-lifestyle products.
Electric scooter maker River Mobility raised $120 million in Series C equity and venture debt to expand manufacturing, launch utility-lifestyle products and improve profitability. The company operates more than 75 Indian stores and targets over 350 by March 2028.
Why this matters
The funding update follows recent River Mobility signals on using $120M to pass 200 outlets and expand production toward 400 retail outlets; the current plan targets more than 350 locations by March 2028.
Store-opening is steady, with 1,753 signals recorded in the past 90 days.
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