Bengaluru based Electric motorcycle maker Ultraviolette Automotive has raised a new round of capital in its Series C funding, led by TVS Motor Company which has been an early backer for the start-up. Zoho Corporation has also participated in this round.
Ultraviolette is currently setting-up its manufacturing and assembling facility in Electronics City, Bengaluru and plans to utilize this investment towards the production and commercial launch of its electric motorcycle, the F77. According to a company statement, Ultraviolette has received over 50,000 booking interests for the F77 from across the world and will begin test rides and deliveries of the motorcycles in the first half of 2022.
Ahead of the commercial launch of the motorcycle, Ultraviolette Automotive has been testing the EV across different terrains, to validate the motorcycle’s drivetrains, chassis and battery capability. The company is currently in the final stages of testing.
Commenting on the investment, Sudarshan Venu, Joint Managing Director, TVS Motor Company, stated, “EVs are a huge focus area for us and we have invested in this area for over a decade. TVS is committed to developing exciting and aspirational products and we have always believed that EV development has to be ground-up for us to make that quantum leap into the global EV revolution. Ultraviolette brings these values to life in a unique way in the F77, and we are excited to support this! We are delighted that we chose to partner with them at an early stage, and I am confident that Ultraviolette’s EV line-up will see rapid adoption across the country and the world.’’
Sridhar Vembu, Founder and CEO, Zoho Corporation added, ‘’What impressed me most about Ultraviolette is their approach towards building the EV experience in the country – one that is focused on high performance, disruptive design and technology, and superior user experience, all built and developed right here in India. There is no doubt that the future of mobility is electric, and innovation has to be at the forefront of product disruption. This approach by Ultraviolette will position India to be a leader in the global EV ecosystem. I am thrilled to support Ultraviolette’s goal towards revolutionizing the mobility landscape globally, and I look forward to the launch of the F77 in the months ahead.”
Ultraviolette Automotive has been co-founded by Narayan Subramaniam and Niraj Rajmohan.
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