River Mobility has raised $120 million in fresh funding as it moves to scale manufacturing and expand its retail reach. The capital comes during a rapid growth phase for the company, which launched its first scooter, Indie, in 2023.
The investment round was made up of roughly 85% equity, with the balance coming through venture debt. It was led by Elev8 Venture Partners and Claypond Capital, with participation from investors including Singularity AMC and Anicut Capital.
With this round, River Mobility’s total fundraising has reached about $190 million to date. The company has also crossed more than 50,000 units sold since the launch of the Indie, showing early market traction as it builds out operations.
The latest raise positions River for its next expansion step, focused on increasing production capacity and reaching more customers through a broader retail network. It also marks a shift from initial product launch to larger-scale execution.
