River launched ‘Indie’ an urban electric scooter in a short time span
Al-Futtaim Automotive has led the investment round of US$ 15mn in the Indian electric two-wheeler startup, River.
The funding series, a testament of Al-Futtaim Automotive’s commitment to supporting sustainable mobility, will bolster River’s manufacturing and distribution networks for an August 2023 delivery kick-off in India, and will enable the company to rapidly scale internationally.
“We evaluated over 50 electric two-wheeler start-ups and are impressed by the team’s vision and relentless commitment to in-house product development,” remarked Paul Willis, President, Al-Futtaim Automotive.
Within a short span of two years since inception, River launched its first product ‘Indie’ an urban electric scooter to rave reviews last February, having generated a fanbase within the automotive communities and global tech enthusiasts, which quickly translated into a wave of pre-bookings, a press release indicated.
Green mobility
Green mobility is a major focus for Al-Futtaim Automotive and through the investment in River, Al-Futtaim Automotive is moving the electric transition from conversation to concrete action and is committed to mark a strong contribution to the UAE’s Net-Zero Strategy, the press note continued.
“In just 20 months, we launched our first product, the Indie, which has by now successfully covered 100,000+ kilometres in testing. Now we’ve set the base to build a billion-dollar business and we thank all our investors for supporting us in our journey,” commented Aravind Mani, Co-Founder and CEO, River.
