India: Ultraviolette raises 18 mn euros in a new funding round

Indian electric two-wheeler start-up Ultraviolette has announced a fresh capital injection of 21 million dollars (approx. 18 million euros). The company will likely utilise the new funds in R&D and overseas expansion.

TDK Ventures, the corporate venture-capital subsidiary of Japanese components manufacturer TDK Corporation, has joined Ultraviolette’s latest funding round as a key investor. Existing institutional investors, including Indian software company Zoho Corporation and Exor-owned investment management company Lingotto (formerly Exor Capital), also took part.

Of all the institutional investors that participated in the latest funding round, Ultraviolette seems most upbeat about joining hands with TDK Ventures. “Our partnership with TDK Ventures fast forwards our efforts, from advanced battery platforms to intelligent vehicle systems,” stated CEO and Co-founder Narayan Subramaniam. “Through this partnership with TDK Ventures, Ultraviolette will continue to innovate in deep-tech to shape the future of mobility,” said CTO and Co-founder Niraj Rajmohan.

Previously, Ultraviolette raised funds from Qualcomm Ventures and Indian companies like prominent two- and three-wheeler manufacturer TVS Motor and venture capital firm Speciale Invest as well. It is expanding its product line-up and retail presence, and the new investment of 21 million dollars (approx. 18 million euros) should help accelerate these efforts.

Selling only two high-performance sports bikes, namely the F77 Superstreet and F77 Mach 2, Ultraviolette is currently a niche brand. However, the company is working on becoming more approachable with new models featuring different body styles and carrying more accessible prices. It has confirmed the Shockwave enduro bike and Tesseract maxi-scooter for launch in Q1 2026 and Q2 2026, respectively.

Furthermore, it plans to introduce eight more models and build a comprehensive line-up of 14 EVs by 2028. Ultraviolette is present in 20 cities in India and plans to expand its retail presence in the domestic market to over 100 cities. The company offers the F77 Superstreet and F77 Mach 2 internationally as well, in Nepal, Germany, France, the UK, Ireland, Austria, Italy, Switzerland, Belgium, the Netherlands, Luxembourg, Portugal, and Spain.

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