River Mobility raises $120M to grow its India store network beyond 350 by March 2028
Bengaluru-based EV maker River Mobility has raised $120 million in Series C equity and venture debt, co-led by Elev8 Venture Partners and Claypond Capital. The company plans to expand from more than 75 stores, add utility-lifestyle products, scale manufacturing and improve profitability.
Bengaluru EV maker River Mobility raised $120 million in Series C equity and venture debt to expand manufacturing, launch products and improve profitability. The company operates 75-plus Indian stores and targets more than 350 by March 2028.
Why this matters
The funding follows recent River Mobility signals on using $120M to expand production, scale manufacturing and grow its India network to 350+ stores by 2028, reinforcing a combined retail and production expansion plan.
Retail-company signals are accelerating, up +163200% QoQ.