E-scooter startup River secures $11M to expand its team, invest in R&D
River, an electric scooter startup, has secured $11 million in funding. The company will use the money to hire more employees, and conduct research and development, among other things. Electric scooter company River, located in Bengaluru, claimed to have secured $11 million from backers, including Lowercarbon Capital, run by US businessman Chris Sacca. Toyota Ventures, Toyota's early-stage venture investing arm, also participated in the round. According to Sacca, who has also invested in Twitter, Uber, and Instagram, three out of every four cars sold in India are two-wheelers. However, the models that are currently on the market have loud, unclean, gas-burning engines from the previous century. Indian motorcyclists now choose River's electric two-wheelers above everything else on the market because they are quicker, harder, and just plain cooler. According to its co-founder Aravind Mani , River intends to use the financing to grow its workforce, invest in R...