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.