Bengaluru: Ultraviolette has announced a new $85 million funding round led by Deep Tech Fund Yali Capital and TDK Ventures, with investment from Lip-Bu Tan, Chairman of Walden International and Advisor to Ultraviolette, alongside the company’s current and long-term investors.
The fresh funding marks an important milestone for Ultraviolette as the electric vehicle manufacturer scales its manufacturing capabilities, advances its next-generation electric vehicle platforms and accelerates its international expansion.
Ultraviolette is targeting entry into the United States in 2027, alongside a broader expansion across key markets in Latin America and South-East Asia.
Ultraviolette to Scale Production of F77 and X-47
Ultraviolette will deploy the newly raised capital towards scaling production of its current products, the F77 and X-47 Crossover, as well as its upcoming products, the Tesseract scooter and Shockwave enduro motorcycle.
The funding follows Ultraviolette’s announcement of its new manufacturing facility, which is expected to scale production capacity to 500,000 units annually.
Currently, Ultraviolette offers the F77 and X-47 Crossover electric motorcycles, featuring the company’s design, technology and performance capabilities.
The Tesseract scooter and Shockwave enduro motorcycle are among the products scheduled for launch.
The company currently retails its electric motorcycles in India and 20 European countries. The company is also targeting the US market in 2027.
Funding to Support Next-Generation EV Platforms
The investment will also support Ultraviolette’s development of its next-generation global EV platforms.
These platforms will build on the company’s vertically integrated capabilities across battery technology, power electronics, vehicle architecture and intelligent software.
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.”
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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 in-house; 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 two-wheeler 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.”
Global Electric Mobility Expansion Target
Ultraviolette founders Narayan Subramaniam and Niraj Rajmohan said, “This funding round represents an important step in our 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 has built technical capabilities spanning battery architectures from 48V to 400V, enabling the company to develop electric mobility solutions across multiple vehicle segments and performance requirements.
The company said it is one of the only electric vehicle manufacturers globally with in-house technology capabilities spanning this range of battery architectures.
According to the company, this breadth of expertise enables it to engineer platforms around the specific performance, range, thermal-management and packaging requirements of different vehicle categories.
