Ultraviolette Raises $45 Million in Series E Round from Zoho and Lingotto

Electric motorcycle maker Ultraviolette has raised $45 million in its ongoing Series E funding round from zoho Corporation and Italy-based investment firm Lingotto.

The startup has not shared the full size of the ongoing funding round or its current valuation. It previously raised $21 million from TDK Ventures in August as part of the same round.

The new funding comes at a time when the Bengaluru-based company is expanding rapidly in India and abroad. Ultraviolette has already grown its retail presence to 30 cities and aims to reach 100 cities by mid-2026, as competition in the electric two-wheeler market continues to rise.

The new funding will help the company expand its two current models — the F77 electric sports bike and the newly launched X-47 crossover motorcycle. It will also be used to develop its upcoming product lines, called Shockwave and Tesseract.

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"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," said Narayan Subramaniam, Co-Founder and CEO of Ultraviolette.

“In 2016, we saw that everyone is going to enter the market more in the utility segment, scooters, with tech that is readily available in other markets,” said Niraj Rajmohan, chief technology officer at Ultraviolette. “What we saw was that it is not really a strong differentiator over the longer term. That is when we started working on building out the core tech.”

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About Ultraviolette 

Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette is backed by several global investors, including Lingotto, TDK Ventures, Qualcomm Ventures, Zoho Corporation, TVS Motors, and Speciale Invest. 

The company markets itself as a leader in EV platforms and battery technology, using aviation-inspired engineering.This year, Ultraviolette also began selling its F77 model in the UK, expanding its reach to 12 countries.

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