New Delhi, April 25 -- Electric scooter company River Mobility has seen its losses more than double in FY25, reaching Rs.176 crore-up from Rs.82 crore in FY24-even as revenue grew 20-fold. The company's aggressive expansion into retail outlets, with 25 stores now operational, has been a key driver of this surge.

In FY24, River's revenue stood at Rs.5 crore, according to regulatory filings accessed by business intelligence platform Tofler. In FY25, it jumped to Rs.104 crore.

Despite the mounting losses, CEO and co-founder Aravind Mani remains confident about the company's growth prospects. "We only had four months of sales in FY24. At the time, we didn't have any distribution, and we were selling out of an office in Whitefield, Bengaluru...