Bengaluru: Electric mobility startup Ultraviolette has secured a strategic investment from TDK Ventures, the corporate venture capital arm of TDK Corporation (TSE: 6762), in a $21 million funding round. This round also saw continued participation from existing investors Zoho Corporation and Lingotto (formerly Exor Capital), along with other leading institutional backers.
The investment aims to accelerate the company’s mission to develop globally competitive, performance-oriented electric vehicles, while advancing innovation in battery technologies and intelligent vehicle systems.
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Ultraviolette: Retail Expansion and Global Reach
Ultraviolette is aggressively scaling its retail footprint in India, expanding from its current presence in 20 cities to over 100 cities nationwide. The company’s flagship model, the Ultraviolette F77, has made history as the first Indian electric two-wheeler to earn European certification and is now available across 10 European countries.
Investor Ecosystem
With the entry of TDK Ventures, Ultraviolette’s investor portfolio now includes Qualcomm Ventures LLC, Zoho Corporation Private Limited, Speciale Invest, Lingotto, and TVS Motor Company Limited.
Individual backers feature high-profile entrepreneurs such as Sriharsha Majety (Co-founder & CEO, Swiggy), Ankit Nagori (Co-founder, Cure Foods; former Chief Business Officer, Flipkart), Aprameya Radhakrishna (Co-founder, TaxiForSure), and actor Dulquer Salmaan.
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Product and Technology Leadership
Founded with a vision to merge futuristic design with precision engineering, Ultraviolette has invested years in research and development to create the F77, setting new benchmarks in performance, safety, and technology. With the latest funding, the company plans to ramp up manufacturing, accelerate research, expand its product lineup, and further penetrate global markets.
“Mobility is undergoing a radical transformation, and at Ultraviolette, we are leading that change through cutting-edge innovation. Our partnership with TDK Ventures fast forwards our efforts, from advanced battery platforms to intelligent vehicle systems,” said Narayan Subramaniam, CEO and Co-founder of Ultraviolette.
Niraj Rajmohan, CTO and Co-founder, added, “Through this partnership with TDK Ventures, Ultraviolette will continue to innovate in deep-tech to shape the future of mobility, focusing on safety, intelligence, and efficiency.”
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TDK Ventures’ Commitment
TDK Ventures focuses on scalable solutions in energy, mobility, and sustainability. Ravi Jain, Investment Director of TDK Ventures, commented, “We look forward to bringing our TDK Goodness to Ultraviolette and supporting their plan to design next-generation energy-efficient performance EV two-wheeler platforms.”
In late 2023, TDK Ventures launched its Bengaluru Innovation Hub to support Indian entrepreneurs in scaling globally, leveraging its expertise in nurturing deep-tech startups worldwide.
