Ultraviolette Raises $85 Million in Series E Funding Round

Electric motorcycle manufacturer Ultraviolette Automotive has announced an $85 million funding round led by Yali Capital and TDK Ventures. The round also includes an investment from Lip-Bu Tan, Chairman of Walden International, who has joined Ultraviolette as an Advisor, along with the company’s existing investors.

According to Ultraviolette, the funds will be used to scale production of its existing and upcoming products, develop new electric vehicle platforms, and expand its presence in international markets.

The company currently sells the F77 and X-47 Crossover electric motorcycles in India and 20 European countries. Its upcoming products include the Tesseract electric scooter and Shockwave enduro motorcycle. Ultraviolette is targeting entry into the US market in 2027 and plans to expand into markets in Latin America and Southeast Asia.

The funding follows Ultraviolette’s announcement of a new manufacturing facility with an annual production capacity of up to 500,000 units. The company will also use the funds to develop next-generation EV platforms, building on its in-house capabilities across battery technology, power electronics, vehicle architecture and software. Its battery architectures range from 48V to 400V for vehicle segments and performance requirements.

Lip-Bu Tan, Chairman of Walden International commented, “What I really like about Ultraviolette is the combination of deep engineering expertise, strong IP, and the willingness to take on genuinely difficult problems. They have built the technology from first principles and are focused on creating something that is truly differentiated for the long term.”

Ganapathy Subramaniam, Founding Managing Partner, Yali Capital said, “India’s shift towards cleaner mobility will increasingly be driven by electric two-wheelers, given the scale of the segment. What attracted us to Ultraviolette is the depth of engineering the team has built inhouse; from the battery, powertrain to software and radar and their focus on applying this technology to real rider needs, especially safety. Ultraviolette has taken the F77 from concept to the roads in India and Europe, and brought radar-based safety features into a production twowheeler with the X-47. With the Tesseract, launching early next year, they will bring this engineering and safety focus to scooters and a much wider set of riders. This combination of deep technology, product focus and ambition gives us strong conviction in Ultraviolette, and we are proud to back them.”

Ravi Jain, Investment Director, TDK Ventures commented, “The adoption of electric two wheelers can be accelerated by superior products powered by differentiated technology. We continue to believe that Ultraviolette is best positioned to catalyze this transition and build winning products for global markets.”

Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette Automotive develops electric vehicles and battery technology, they shared “This funding round represents an important step in Ultraviolette’s evolution into a global electric mobility company. The conviction demonstrated by Yali Capital, TDK Ventures, Lip-Bu Tan and our long-term investors reinforces our vision of building a design and tech focused global brand out of India. This investment will enable us to scale manufacturing, accelerate the development of our future product platforms and deepen our presence across international markets. Our single minded focus is about being a global leader in future mobility; electric vehicles that bring together
uncompromising performance, future centric design and advanced technology.”

Ultraviolette’s investors include Lingotto, TDK Ventures, Qualcomm Ventures, Zoho Corporation, TVS Motor and Speciale Invest. The company currently operates across 20 European countries, including Germany, France, Spain, Portugal, the UK, Belgium, the Netherlands, Italy, Switzerland and Hungary.

Also read: Ultraviolette Announces New BIGGA Manufacturing Facility in Hosur, Tamil Nadu