Ultraviolette, a Bengaluru-based electric two-wheeler start-up, has raised $85 million in a fresh funding round led by deep-tech fund Yali Capital and TDK Ventures — as it prepares to substantially ramp up production and enter new international markets, including the U.S. in 2027 and Latin America and Southeast Asia. Lip-Bu Tan — Chairman of Walden International — participated in the round and has joined Ultraviolette as an advisor. Long-standing investors — including those connected to TVS Motor and Zoho — also participated. The funding follows the firm’s announcement of a new facility that could achieve an annual production of up to 500,000 units — a significant jump from its current production of 50,000-60,000 vehicles per annum.
It will use the capital to scale production of its current F77 and X-47 Crossover models, as well as prepare for the launch of two new products: the Tesseract scooter and the Shockwave enduro motorcycle. The investment will hasten the development of its next-generation electric vehicle platforms — in which it has in-house expertise of battery technology, power electronics, vehicle architecture and intelligent software.
The company already sells motorcycles in India and in 20 European countries, including Germany, France, Spain, the UK, Italy and many others. International sales constitute a significant proportion of its volumes and will increase further as it expands its presence in other markets in the coming years. With the new capital, Ultraviolette will develop its domestic retail network as well as build on its international sales in the coming years.
The founders have described the round as growth capital for the next stage of the company’s development — in manufacturing, product development and international expansion. They believe that the move will enable Ultraviolette to consolidate its position as a technology-driven electric two-wheeler company with a global footprint.