Bengaluru-based electric vehicle maker Ultraviolette has raised $85 million in a new funding round led by deeptech investor Yali Capital and TDK Ventures, according to a company announcement on Wednesday.
The round also saw participation from Lip-Bu Tan, Chairman of Walden International and an advisor to Ultraviolette, along with the company’s existing and long-term investors.
Ultraviolette said it will use the fresh capital to scale manufacturing, develop its next-generation electric vehicle platforms and expand into international markets. The company plans to enter the US market in 2027 while also expanding across markets in Latin America and Southeast Asia.
The funding will support production of its existing F77 and X-47 models, as well as upcoming products including Tesseract and Shockwave, to meet the growing demand in India and overseas. The company is also developing global EV platforms based on its vertically integrated capabilities across battery technology, power electronics, vehicle architecture and software.
“This investment will enable us to scale manufacturing, accelerate the development of our future product platforms and deepen our presence across international markets. Our single-minded focus is about being a global leader in future mobility, electric vehicles that bring together uncompromising performance, future centric design and advanced technology,” said Ultraviolette founders Narayan Subramaniam and Niraj Rajmohan.
Bengaluru-based Ultraviolette was founded in 2016 by Narayan Subramaniam and Niraj Rajmohan to develop electric vehicle platforms and battery technologies. The company is also backed by investors including Lingotto, Qualcomm Ventures, Zoho Corporation, TVS Motor and Speciale Invest.
Ultraviolette was the first Indian electric vehicle manufacturer to secure European certification for its motorcycles. It has since expanded its international presence, exporting its motorcycles to 20 countries across Europe, including Germany, France, Spain, Portugal, the UK, Belgium, the Netherlands, Italy, Switzerland and Hungary.
