New Delhi, Aug. 5 -- River Mobility said on Wednesday it has raised $120 million in an oversubscribed Series C round as it prepares to ramp up manufacturing, broaden its product range and expand its retail footprint in the country.

The round is among the largest private investments in India's electric two-wheeler sector.

The investment round, comprising about 85% equity and the rest venture debt, was led by Elev8 Venture Partners and Claypond Capital, with participation from Singularity AMC, Anicut Capital, 360 ONE Asset, JIF Capital and HDFC AMC. Existing investors Yamaha Motor Corporation, Al-Futtaim Group and Mitsui & Co. also participated, along with venture debt providers Alteria Capital, Innoven Capital and Stride Ventures.

The B...