Ultraviolette has raised $85 million in a new funding round led by deep tech fund Yali Capital and TDK Ventures. The round also includes investment from Lip-Bu Tan, Chairman of Walden International and Advisor to Ultraviolette, along with the company’s existing long-term investors.
The funding will support Ultraviolette’s plans to expand manufacturing, develop its next generation of electric vehicle platforms and increase its presence in international markets. The company recently announced a new manufacturing facility with the capacity to produce up to 500,000 vehicles annually.
Ultraviolette currently offers the F77 and X-47 Crossover electric motorcycles in India and 20 European countries. The company is also preparing to launch the Tesseract electric scooter and Shockwave enduro motorcycle. The new funding will help the company scale production of its existing and upcoming products to meet demand in domestic and international markets.
The company is targeting entry into the US market in 2027 and plans to expand further across Latin America and Southeast Asia. The investment will also be used to develop Ultraviolette’s next generation of global EV platforms. These platforms will build on the company’s in-house capabilities in battery technology, power electronics, vehicle architecture and intelligent software.
Lip-Bu Tan, Chairman of Walden International, said, “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.”
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.”
He added that the company had taken the F77 from concept to production in India and Europe and introduced radar-based safety technology with the X-47. He said the upcoming Tesseract would extend the company’s engineering and safety capabilities to the scooter segment.
Ravi Jain, Investment Director, TDK Ventures, said, “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.”
Ultraviolette’s founders, Narayan Subramaniam and Niraj Rajmohan, said the funding would help the company scale manufacturing, develop future product platforms and expand its international presence. They added that the company aims to build a global electric mobility brand from India with a focus on performance, design and technology.
Ultraviolette has developed battery architectures ranging from 48V to 400V, allowing it to design electric vehicles for different segments and performance requirements. Its in-house capabilities cover battery systems, powertrain, electronics, software and vehicle architecture.
Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette Automotive develops electric vehicle platforms and battery technologies. The company is backed by investors including Lingotto, TDK Ventures, Qualcomm Ventures, Zoho Corporation, TVS Motor and Speciale Invest. Ultraviolette was the first Indian electric motorcycle manufacturer to secure European certification and currently exports to 20 European countries, including Germany, France, Spain, Portugal, the UK, Belgium, the Netherlands, Italy, Switzerland and Hungary.
