E-scooter startup River Mobility India raises $40 million led by Yamaha Motor company

  • Deal
  • February 19, 2024

JSA advised River Mobility, an e-scooter startup (“company”) in relation to its USD 40 million – Series B fund raise led by Yamaha Motor Co, Ltd. The round also saw participation from existing investors Al-Futtaim Automotive, Lowercarbon Capital, Toyota Ventures and Maniv Mobility.

The funds will be utilised for scaling up the distribution and service network, among others. The company entered the domestic EV market with its first e-scooter, Indie, in October last year, and in January it opened its first River store in Bengaluru.

JSA’s role especially dealt with deal construct from an India exchange control regulatory angle.

Deal value: USD 40 million

Our Transaction Team Comprised Lead Partner – Varun Sriram, Associate – Nandini Menon V