Ultraviolette Secures $45 Million Investment from Zoho and Lingotto to Accelerate Global Growth
Bangalore-based electric vehicle manufacturer Ultraviolette has announced a significant boost to its growth plans, securing $45 million as part of its ongoing Series E funding round. The latest infusion of capital comes from two major players: Zoho Corporation, a leading Indian technology company, and Lingotto, one of Europe’s largest investment management firms.
This investment underscores strong investor confidence in Ultraviolette’s vision and its trajectory in the electric mobility sector. The company has established itself as a design-led enterprise with products like the F77 and the newly launched X-47 crossover electric motorcycle.
Fueling Domestic and International Expansion
The fresh capital will be pivotal in scaling up operations for Ultraviolette’s current product lineup, which includes the flagship F77 and the X-47. Additionally, the funds will support the development of future product platforms codenamed Shockwave and Tesseract.
Niraj Rajmohan, CTO & Co-Founder of Ultraviolette, emphasized that the investment will help the company double down on growth. “We are 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,” Rajmohan stated.
Strategic Partnerships for Global Reach
The involvement of Zoho Corporation was led by its co-founders Sridhar Vembu, Mani Vembu, and Kumar Vembu. Narayan Subramaniam, Co-Founder & CEO of Ultraviolette, highlighted the synergy between the partners. “Lingotto’s legacy of backing iconic performance brands, combined with Zoho’s commitment to fostering Indian innovation, aligns perfectly with our mission to build category-defining solutions for India and global markets,” he said.
Ultraviolette has already made strides internationally, recently launching the F77 in the United Kingdom, bringing its presence to 12 countries across Europe. Domestically, the brand has expanded to 30 cities in just 12 months, with plans to reach 100 cities by mid-2026.
About Ultraviolette Automotive
Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette is an innovator in electric vehicle platforms and battery technology. Backed by a diverse group of global investors including TVS Motors, Qualcomm Ventures, and TDK Ventures, the company aims to redefine electric mobility with its aviation-inspired DNA.
Frequently Asked Questions (FAQs)
How much funding did Ultraviolette raise recently?
Ultraviolette secured $45 million in its ongoing Series E investment round.
Who are the new investors in Ultraviolette?
The latest round of funding saw participation from Zoho Corporation and Lingotto.
What will the new funds be used for?
The capital will accelerate the domestic and international scaling of the F77 and X-47 motorcycles, as well as the development of future platforms like Shockwave and Tesseract.
Is Ultraviolette available outside India?
Yes, Ultraviolette has launched its motorcycles in the United Kingdom and is now present in 12 European countries.
What are the expansion plans for India?
The company plans to expand its footprint from the current 30 cities to 100 cities across India by mid-2026.
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