Ultraviolette Automotive, a Bengaluru-based electric motorcycle startup, has raised $45 million as part of its ongoing Series E funding round from Zoho Corporation, an Indian technology company and Lingotto, an Italy-based investment management company.
In August this year, Ultraviolette raised $21 million from TDK Ventures, also as part of the ongoing Series E funding round.
The fresh capital raised will be used to scale production of its two existing models, the F77 electric sports bike and the recently launched X-47 crossover motorcycle. The funding will also be deployed to advance the company’s upcoming product platforms, codenamed Shockwave and Tesseract.
Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette is an electric vehicle platform and battery technology company that offers compelling alternatives to internal combustion engine motorcycles and scooters by combining aspirational design, superior performance, and advanced safety features.
Ultraviolette has grown its retail footprint to 30 Indian cities and plans to reach 100 cities by mid-2026, amid rising competition in the electric two-wheeler market.
The company has a presence in 10 countries, including France, Ireland, Austria, Italy, Switzerland, Belgium, the Netherlands and Luxembourg for its F77 Mach 2 and F77 SuperStreet.
The company began selling the F77 model in the UK this year, expanding its presence to 12 countries.
Ultraviolette is backed by a spectrum of global investors, including Lingotto, TDK Ventures, Qualcomm Ventures, Zoho Corporation, TVS Motors, and Speciale Invest.
Zoho’s participation adds to the software firm’s growing interest in backing Indian deeptech ventures, while Lingotto, part of Exor NV, the owner of Ferrari, has been increasing its bets in performance mobility and the EV space.
Narayan Subramaniam, Co-Founder & CEO, Ultraviolette, said, “We are glad to announce our Series E investment from Zoho and Lingotto. Lingotto’s legacy of backing iconic performance and mobility brands, combined with Zoho’s long-term commitment to fostering cutting-edge Indian innovation, aligns perfectly with Ultraviolette’s mission to build category-defining electric mobility solutions for India and global markets.”
Niraj Rajmohan, CTO & Co-Founder, Ultraviolette, said, “With the ongoing Series E investments, we are doubling down on growth and expanding our production to meet increasing demand. Our focus is on advancing breakthrough battery technology, elevating performance capabilities and expanding production to support upcoming product platforms. This investment will accelerate our journey towards scaling into India and global markets.”
