positiveSYS.SOURCE: TechCrunch• 2026-08-05T11:26:00Z

Indian EV Startup River Secures $120M Series C to Expand Production and Introduce New Models

#electric vehicles #fundraising #india #startups #transportation

Indian EV startup River raised $120M in Series C funding led by Elev8 Venture Partners and Claypond Capital to scale production and launch additional models. The company, which currently sells 6,000 units monthly of its single model Indie, aims to reach 20,000-25,000 units monthly by 2028-29, expanding to 400 stores by 2028.

River plans to build a new factory, launch additional models from 2027, and target profitability as it scales production.

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