Ultraviolette has Raised ₹130 crore in Funding

Electric motorcycle maker Ultraviolette has raised ₹130 crore in funding, reflecting the growing interest in India’s electric vehicle (EV) market.

Invetsor of the round

The funding round included both existing and new investors, such as zoho Corporation, Lingotto Co-Invest Fund I, and Mudhal Partners. The company’s board approved the issuance of 4,52,431 Series E1 compulsorily convertible preference shares at a price of ₹2,874 per share, including a premium of ₹2,864.

Founded in 2016 and based in Bengaluru, Ultraviolette makes electric motorcycles and is backed by investors like TVS Motor Company and Qualcomm Ventures.

The company is also planning international expansion. In September, Ultraviolette shipped its first batch of Indian-made motorcycles to European markets. It aims to establish a nationwide presence in India by March 2025 and reach 1,000 monthly sales within the next six to eight months. The company is also expanding its product line, focusing on the mid-weight superbike market.

With the Indian EV market growing, companies like ola Electric and ather energy are also making moves, with plans to enter the electric motorcycle space.

About Ultraviolette

Ultraviolette's mission is to inspire the future of sustainable urban transportation through fast innovation.

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