<b>River Mobility closes $120 million Series C (equity + venture debt)</b> led by Indian institutional investors Elev8 & Claypond, marking first major backing from domestic capital alongside global strategic and impact investors.

PE / VC 5 Aug 2026· $120 million (₹1,141 crore approx.) · Completed· ◔ Reported

River Mobility announced the closure of a $120 million Series C funding round comprising equity and venture debt. Founded in 2021 by Aravind Mani and Vipin George, Bengaluru-based River Mobility develops electric two-wheelers. The oversubscribed funding round comprises equity investment led by Elev8 Venture Partners and Claypond Capital, with participation from Singularity AMC, Anicut Capital, 360 ONE Asset, JIF Capital and HDFC AMC, along with venture debt from Alteria Capital, Innoven Capital and Stride Ventures. This Series C marks River's first significant backing from Indian institutional investors, a shift that suggests domestic capital is now willing to underwrite electric…

Why it mattersThe entry of tier-1 Indian institutional investors (Elev8, Claypond, Singularity, HDFC AMC) into electric two-wheeler manufacturing venture debt and equity-previously dominated by strategic automotive and climate-tech investors-signals domestic institutional confidence in EV manufacturing scale and margin profile; transaction counsel must confirm absence of foreign investment gates under the Foreign Exchange Management Act (FEMA) and Manufacturing Linked Incentive (PLI) scheme compliance prerequisites for capital deployment.
CounselBharucha & Partners, Shardul Amarchand Mangaldas & Co, Khaitan & Co
SectorTechnology
Value$120 million (₹1,141 crore approx.)
[object Object][object Object][object Object][object Object][object Object][object Object][object Object][object Object][object Object]

Sources

Open in the live tracker →

Related deals