Shardul Amarchand Mangaldas advises lead investors on USD 120 million primary investment in River Mobility

August 11, 2026

Shardul Amarchand Mangaldas acted as legal counsel to Elev8 Capital, Claypond Capital, Singularity Growth Opportunities Fund, Anicut Equity Continuum Fund and their respective co-investors, who led the investment round of a total of USD 120 million (approximately INR 1,141 crore) in River Mobility Private Limited, one of India’s emerging electric two-wheeler manufacturers.

The funding round saw participation from multiple domestic and international investors, including Yamaha Motor Co. Ltd., Toyota Ventures Frontier Fund I, L.P., Al-Futtaim Auto International LLC, Mitsui & Co., Ltd., Marubeni Ventures Inc. and Maniv Mobility II, L.P. The investment will support River Mobility’s next phase of growth, including manufacturing expansion, product development and scaling of its electric mobility platform.

The SAM transaction team was led by Partners Manish Gupta and Ashish Ahluwalia, and supported by Vivek Tiwari, Senior Associate; Shivangi Kumari, Senior Associate; and Adarsh Mishra, Associate.