In a significant boost for India's electric vehicle (EV) sector, Bengaluru-based electric motorcycle manufacturer Ultraviolette has successfully secured $45 million in fresh growth capital. This funding is part of the company's ongoing Series E financing round and comes from prominent investors: software giant Zoho Corporation and the European investment firm Lingotto.
Strategic Investors Back Homegrown EV Innovation
The investment highlights a growing trend of domestic technology leaders supporting India's clean mobility ecosystem. The funding from Zoho was spearheaded by its founder and CEO Sridhar Vembu, along with Mani and Kumar Vembu. This move underscores the confidence of successful Indian tech founders in the future of electric mobility. Lingotto, the investment arm of Exor N.V., joins an already impressive global investor roster for Ultraviolette, which includes TVS Motor Company, Qualcomm Ventures, and TDK Ventures.
Fueling Expansion and Next-Gen Technology
The newly acquired capital will be strategically deployed to accelerate Ultraviolette's ambitious growth plans. A primary focus will be on scaling up the production and sales of its current flagship models: the performance-oriented F77 electric sportbike and the newly unveiled X-47 crossover electric motorcycle.
Furthermore, the company plans to channel funds into research and development for its future platforms, internally codenamed 'Shockwave' and 'Tesseract'. Co-founder and Chief Technology Officer Niraj Rajmohan emphasized that the company is intensifying its efforts in advanced battery technology and performance engineering as it prepares for larger-scale operations.
Aggressive Growth: From 0 to 100 Cities
Ultraviolette has demonstrated remarkable domestic growth, expanding its retail presence from zero to 30 cities across India within just 12 months. Building on this momentum, the company has set an aggressive target to reach 100 cities by mid-2026, significantly widening its accessibility to Indian consumers.
On the international front, Ultraviolette is making steady inroads into the European market. After recently launching the F77 in the United Kingdom, its footprint now spans 12 countries across Europe. This global ambition is echoed by co-founder and CEO Narayan Subramaniam, who stated that the Series E funding will empower the company to "build category-defining electric mobility solutions for India and global markets."
This substantial investment round signals strong investor belief in Ultraviolette's technology and business model, positioning the Bengaluru startup as a formidable player in the global shift towards high-performance electric two-wheelers.
