River Mobility raises $120M, targets 350-plus India stores by March 2028
Bengaluru-based EV maker River Mobility has raised $120 million in Series C equity and venture debt, backing factory expansion, new product launches and a planned increase in its Indian retail network from more than 75 stores to over 350 by March 2028.
Bengaluru-based EV maker River Mobility raised $120 million in Series C equity and venture debt. It will expand factory capacity, build a greenfield plant, launch utility-lifestyle products and grow its Indian store network from over 75 to more than 350 by March 2028.
Why this matters
The funding follows recent River Mobility signals on expanding its India network beyond 350 stores and scaling manufacturing alongside retail growth, reinforcing a sustained store-opening plan.
Store-opening is steady, with 1,757 signals recorded in the past 90 days.