Ultraviolette Automotive, a Bengaluru-based electric motorcycle startup, has raised $21 million in a strategic funding round led by TDK Ventures, the corporate venture capital arm of TDK Corporation.
The round also saw participation from existing investors Zoho Corporation and Lingotto (formerly Exor Capital), along with other institutional and angel investors, including Sriharsha Majety (Swiggy), Ankit Nagori (Curefoods), Aprameya Radhakrishna (TaxiForSure), and actor Dulquer Salmaan.
The fresh funds raised will be used to expand its manufacturing capabilities, accelerate innovation in battery and vehicle technologies, and scale its retail presence across India, from 20 cities currently to over 100 in the coming years. The company also aims to strengthen its global market outreach.
Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette offers compelling alternatives to internal combustion engine motorcycles and scooters by combining aspirational design, superior performance, and advanced safety features.
F77 MACH 2 and F77 SuperStreet are the company’s flagship models. Ultraviolette’s upcoming scooter, the ‘Tesseract’ and light motorcycle ‘Shockwave,’ have garnered over 70,000 paid bookings, representing more than $120 million in order value.
The company is steadily expanding its distribution network with a presence in 20 Indian cities and a target of reaching 100 cities by year-end. The company commenced sales in 10 EU countries earlier this year.
Ultraviolette is now scaling up manufacturing, accelerating research, expanding its distribution network, and bringing its product portfolio to global markets.
Narayan Subramaniam, CEO and Co-founder of Ultraviolette, said, “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. This collaboration not only accelerates our vision of future-ready mobility but also reinforces our commitment to delivering electric vehicles that are aspirational and globally relevant.”
Niraj Rajmohan, CTO and Co-founder of Ultraviolette, said, “Through this partnership with TDK Ventures, Ultraviolette will continue to innovate in deep-tech to shape the future of mobility. Together, we will continue to push the boundaries in building safer, smarter, and a more efficient electric mobility eco-system.”
Ravi Jain, Investment Director of TDK Ventures, said, “We look forward to bringing our TDK Goodness to Ultraviolette and their ambitious plan to design the next generation of energy-efficient and performance EV 2W platforms. TDK Ventures is excited to support Ultraviolette in their relentless pursuit of growing their global reach.”
