River Mobility raises $120M, leads $252M week for Indian startups
Bengaluru-based electric two-wheeler maker River Mobility raised $120 million in a Series C round led by Elev8 Venture Partners and Claypond Capital, anchoring a week in which 23 Indian startups collectively drew over $252.03 million in disclosed funding.
The round — which also drew participation from Singularity AMC, Anicut Capital, 360 ONE Asset, JIF Capital, HDFC AMC and existing investor Yamaha Motor Corporation — accounted for nearly 48% of the week’s total.
River Mobility designs and manufactures electric two-wheelers, led by its Indie scooter. The fresh capital is earmarked for capacity expansion, a new greenfield plant, new products in the utility lifestyle segment, and a push toward profitability.
The $252.03 million logged between August 3 and August 8 marks a 216% jump from the $79.79 million raised the previous week. The second-largest round belonged to Ahmedabad-based insurtech startup InRisk Labs, which closed a $27 million Series A from Bessemer Venture Partners and Northpoint Capital. D2C athleisure brand BlissClub followed with $16.8 million led by Singularity AMC.
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EVs and the energy transition dominated the top of the table. Beyond River Mobility, Pune-based Matel Motion & Energy Solutions raised $13.65 million for its powertrain and motor controller business, while EV infrastructure plays and battery startups also featured in the 23 deals. Other funded sectors included AI, enterprise AI, fintech, climatetech, quick commerce, legaltech, and robotics.
River’s outsized round highlights a continued appetite for India’s electric mobility story — a space where global capital, including Yamaha’s follow-on, is increasingly visible. For international investors and partners, the concentration of capital in hard-tech and manufacturing-enabled businesses suggests the India corridor is maturing beyond software-first narratives.
Three M&A transactions also closed during the week: Imarticus Learning acquired BELLS Institute, Mintoak acquired ICC Loyalty, and Nykaa picked up a 51% stake in Aminu. Financial terms were undisclosed across all three.
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