River gears up for multi-product play, plans product expansion, new factory after $120 mn fundraise

EV startup River Mobility raises $120M in Series C co-led by Elev8 Venture and Claypond Capital

River Mobility raised $120M Series C (Elev8/Claypond co-led) for manufacturing expansion and utility two-wheeler launch. India's EV two-wheeler market consolidates at 5,000 units/month with clear EBITDA path—critical signal reshaping emerging-market mobility governance.