Goodwin Guides River on $120 Million Series C Financing
The Technology team advised River, an Indian electric vehicle manufacturer, on its $120 million oversubscribed Series C financing. The round was led by Elev8 Venture Partners and Claypond Capital, with participation from Singularity AMC, Anicut Capital, 360 ONE Asset, JIF Capital, and HDFC AMC, alongside existing investors Yamaha Motor, Al-Futtaim Group, and Mitsui. The financing, which consisted primarily of primary equity capital with a small venture debt component, will support River’s next phase of growth, including scaling manufacturing capacity, expanding its retail footprint, and accelerating production of its electric two-wheelers.
River is an Indian design-led mobility company focused on developing electric two-wheelers that make everyday transportation more practical, safe, and versatile. Founded in 2021, the company designs, engineers, and manufactures products with a focus on utility and everyday use. Its flagship product, the Indie, is an electric scooter built to meet the needs of modern commuters through a combination of functionality, durability, and thoughtful design. Headquartered in Bengaluru, River continues to expand its manufacturing and retail presence across India as it advances its mission to improve personal mobility through purpose-driven design.
The Goodwin team was led by David Brekke, Monica Devlin, Mira Pranav, Belem Sanchez, Sophia Liu, and Kelsey Lemaster.
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