Bengaluru-based electric motorcycle firm Ultraviolette Automotive has raised $85 million in a fresh funding round. Yali Capital and TDK Ventures led the investment. Lip-Bu Tan, who chairs Walden International and advises the startup, also joined in, along with the company's long-standing backers.
How the Money Will Be Used
The firm plans to spend the funds on increasing output of bikes it already sells and those in development. It will also support work on fresh EV platforms and a wider push into markets outside India.
Ultraviolette develops most of its key technology on its own. This covers batteries, power electronics, vehicle design and software. Its battery systems run from 48V to 400V, serving different vehicle types and performance levels.
Current Line-up and Future Plans
The company sells two electric motorcycles at present, the F77 and the X-47 Crossover. These are available in India and in 20 European nations, among them Germany, France, Spain, Portugal, the UK, Belgium, the Netherlands, Italy, Switzerland and Hungary.
The X-47 stands out for offering radar-based safety features on a production two-wheeler.
Two launches are lined up. The Tesseract electric scooter is due early next year, while the Shockwave enduro bike is also in the pipeline. The firm aims to enter the US market in 2027, with Latin America and Southeast Asia on its radar after that.
What the Backers Said
Ganapathy Subramaniam, founding managing partner at Yali Capital, said electric two-wheelers will play a growing role in India's move towards cleaner transport, given how large the segment is. He praised the team's in-house strength in batteries, powertrains, software and radar, and its focus on rider safety.
Ravi Jain, investment director at TDK Ventures, said better products built on distinct technology can push faster adoption of electric two-wheelers. He added that Ultraviolette is well placed to drive this shift and create winning products for world markets.
Lip-Bu Tan said he was drawn to the firm's strong engineering depth, solid intellectual property and its readiness to tackle genuinely tough problems.
Company Background
Narayan Subramaniam and Niraj Rajmohan set up the firm in 2016. It builds electric vehicles and battery technology. Its investor list includes TVS Motor, Qualcomm Ventures, Zoho Corporation, Lingotto and Speciale Invest.
The founders called the round an important milestone in their journey to build a global electric mobility brand from India. They said the money will help scale manufacturing, speed up work on future platforms and strengthen their footprint abroad.