River

It invested most of the funding it raised in product development and R&D. The startup has an R&D facility in Bengaluru and a manufacturing facility in Karnataka’s Hoskote. It also claims to have built most of its EV components in-house, including battery packs and drivetrains. The company is also in talks to raise another $100 million. The next funding round will occur before the company sells its vehicles.

River’s mission is to improve the day-to-day lives of people through a design-first approach. Their first product Indie is a bold statement, combining two different offerings—utility and lifestyle. It is the most sensible scooter with the right mix of practicality, capability, and style. Indie replicates the West’s ” pick-up truck culture, ” meaning that the vehicle has significant cargo space.

River plans to sell directly to consumers and offer a suite of subscription services and an array of accessories that lets owners customize their scooters and remove them as their needs change throughout the day. The company plans to offer to charge and battery packs that will range in size, maintenance, and connectivity packages offered through subscriptions. The river will not take on the costly task of building out charging infrastructure. Instead, the company plans to operate a charging franchise system.