River Secures Investment from Mitsui & Marubeni to Propel Electric Scooter Revolution

Electric vehicle startup River has garnered investment from eminent global trading companies Mitsui & Co., Ltd. and Marubeni Ventures Inc. This collaboration strengthens River's position in the electric scooter market and supports its ambitious expansion plans, including a nationwide presence in over 50 cities by year-end.

Electric vehicle manufacturer River has announced a significant new investment from global trading companies Mitsui & Co., Ltd. and Marubeni Ventures Inc., the venture capital arm of Marubeni Corporation. This financial boost, part of River's Series B funding round, cements the startup's position as a leading innovator in the electric scooter market.

Mitsui & Marubeni, renowned Japanese trading entities, have recognized River's potential to transform the electric scooter landscape and are committed to expanding their footprint in the electric vehicle industry. River launched its first product, Indie, in 2021, and has since built a large manufacturing facility with the capacity to produce 100,000 units annually.

Earlier this year, River opened its first retail store in Bengaluru and aims to expand to over 50 cities across India by the end of the year. Co-founder and CEO Aravind Mani welcomed the new investors, stating that this partnership strengthens River's position in the Indian two-wheeler market and paves the way for global expansion.