Electric mobility startup River raised $11 million led by Lowcarbon Capital, a US-based VC fund by Chris Sacca, an early-stage investor in Twitter, Uber and Instagram where Toyota Ventures also participated.
River competes in India’s fast-growing two-wheeler EV space with Ola Electric, Okinawa, Aether Energy, and others. The scooter is being built specifically for carrying loads by the startup. River claims that it is developing an electric scooter to replace the “pick-up truck culture” of the West, implying that the electric scooter will be capable of carrying a significant load. As a result, the startup will also target another rapidly growing segment in India: last-mile delivery.
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Electric mobility startup River raised $11 million led by Lowcarbon Capital, a US-based VC fund by Chris Sacca, an early-stage investor in Twitter, Uber and Instagram where Toyota Ventures also participated.
River competes in India’s fast-growing two-wheeler EV space with Ola Electric, Okinawa, Aether Energy, and others. The scooter is being built specifically for carrying loads by the startup. River claims that it is developing an electric scooter to replace the “pick-up truck culture” of the West, implying that the electric scooter will be capable of carrying a significant load. As a result, the startup will also target another rapidly growing segment in India: last-mile delivery.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
