Bengaluru-based electric motorcycle maker Ultraviolette has raised $45 million in its ongoing Series E round, per an announcement.
The fresh capital comes from Zoho Corporation and European investment firm Lingotto, a wholly owned subsidiary of Exor NV, which is controlled by Italy’s Agnelli family. The investment from Zoho Corporation was led by Sridhar Vembu, Mani Vembu and Kumar Vembu.
Earlier in August, Ultraviolette had raised $21 million from TDK Ventures.
The new funds will help Ultraviolette scale production of its two current models—the F77 electric sports bike and the newly introduced X47 crossover. The company is also accelerating its domestic and global expansion efforts as competition in the electric two-wheeler market heats up.
“With the ongoing Series E investments, we are doubling down on growth and expanding our production to meet increasing demand. Our focus is on advancing breakthrough battery technology, elevating performance capabilities and expanding production to support upcoming product platforms. This investment will accelerate our journey towards scaling into India and global markets,” said Niraj Rajmohan, CTO & Co-Founder, Ultraviolette.
Ultraviolette has expanded to 30 cities across India in 12 months and is planning to expand to 100 cities by mid-2026. It has also begun selling the F77 in the UK, increasing its footprint to 12 countries across Europe.
