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Indian electric vehicle maker Ultraviolette Automotive has raised $85 million in a fresh funding round led by Yali Capital and TDK Ventures, as the company prepares to scale production,
develop new electric vehicle platforms and expand into international markets.
The round also saw participation from existing investors. Lip-Bu Tan, Chairman of Walden International, has invested in Ultraviolette and will join the company as an advisor. The company said the fresh capital will be used to increase production of its existing electric motorcycles, support upcoming product launches and develop its next generation of global EV platforms.
Ultraviolette is targeting entry into the United States in 2027 as part of its international expansion strategy. The company also plans to expand further across Latin America and Southeast Asia.
The Bengaluru-based manufacturer currently has a presence in India and 20 European countries. Its existing portfolio includes the F77 electric motorcycle and X-47 Crossover. The company is also preparing the Tesseract electric scooter and Shockwave enduro motorcycle for launch.
The funding comes as Ultraviolette expands its manufacturing capabilities. The company has announced a new facility in Tamil Nadu that is planned to increase its annual production capacity to 250,000 vehicles initially, with the ability to scale to 500,000 units.
The company said the additional capacity will support demand for its current models as well as its upcoming products. A portion of the new investment will be directed towards developing Ultraviolette's next generation of EV platforms.
The company has built in-house capabilities covering battery systems, power electronics, vehicle architecture and software. Its battery technology spans architectures from 48V to 400V, which it uses to develop electric vehicles across different segments and performance requirements.
Ultraviolette's technology strategy also involves sharing core systems across multiple vehicle platforms. The company has developed common software and vehicle-control architecture for several of its current and upcoming models.
Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette has raised capitalfrom investors including Lingotto, Qualcomm Ventures, Zoho Corporation, TVS Motor, and Speciale Invest, alongside Yali Capital and TDK Ventures.
The round also saw participation from existing investors. Lip-Bu Tan, Chairman of Walden International, has invested in Ultraviolette and will join the company as an advisor. The company said the fresh capital will be used to increase production of its existing electric motorcycles, support upcoming product launches and develop its next generation of global EV platforms.
Ultraviolette is targeting entry into the United States in 2027 as part of its international expansion strategy. The company also plans to expand further across Latin America and Southeast Asia.
The Bengaluru-based manufacturer currently has a presence in India and 20 European countries. Its existing portfolio includes the F77 electric motorcycle and X-47 Crossover. The company is also preparing the Tesseract electric scooter and Shockwave enduro motorcycle for launch.
The funding comes as Ultraviolette expands its manufacturing capabilities. The company has announced a new facility in Tamil Nadu that is planned to increase its annual production capacity to 250,000 vehicles initially, with the ability to scale to 500,000 units.
The company said the additional capacity will support demand for its current models as well as its upcoming products. A portion of the new investment will be directed towards developing Ultraviolette's next generation of EV platforms.
The company has built in-house capabilities covering battery systems, power electronics, vehicle architecture and software. Its battery technology spans architectures from 48V to 400V, which it uses to develop electric vehicles across different segments and performance requirements.
Ultraviolette's technology strategy also involves sharing core systems across multiple vehicle platforms. The company has developed common software and vehicle-control architecture for several of its current and upcoming models.
Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette has raised capitalfrom investors including Lingotto, Qualcomm Ventures, Zoho Corporation, TVS Motor, and Speciale Invest, alongside Yali Capital and TDK Ventures.
