India, Aug. 5 -- Electric two-wheeler manufacturer River Mobility has raised $120 Mn (about Rs.1,141 Cr) in its Series C funding round co-led by Elev8 Venture Partners and Claypond Capital. The round also saw participation from Singularity AMC, Anicut Capital, 360 ONE Asset, JIIF, and HDFC AMC, along with existing investors, including Yamaha Motor Corporation, Al Futtaim Group, and Mitsui & Co.

Notably, the round was a mix of equity and debt funding, with Elev8 contributing around $25 Mn. The debt portion saw participation from Alteria Capital, Innoven Capital, and Stride Ventures.

This was also River's first fundraise involving Indian institutional investors. Some of its other foreign backers include Lowercarbon Capital, Toyota Venture...