Ultraviolette today announced a strategic investment from TDK Ventures, the corporate venture capital arm of TDK Corporation. This partnership represents a pivotal step in Ultraviolette’s mission to develop and scale globally competitive performance-oriented EVs that embody Indian innovation and engineering excellence. The investment is part of a funding round of $21M that saw strategic participation from TDK Ventures, along with strong continued backing from existing investors, including Zoho Corporation and Lingotto (previously Exor Capital), among other leading institutional investors.
Ravi Jain, Investment Director of TDK Ventures, commented,
“We look forward to bringing our TDK Goodness to Ultraviolette and their ambitious plan to design the next generation of energy efficient and performance EV 2W platforms. TDK Ventures is excited to support Ultraviolette in their relentless pursuit of growing their global reach.”
A Paving Partnership for Global Ambitions
TDK Ventures now joins Ultraviolette’s distinguished group of institutional investors, which includes Qualcomm Ventures, Zoho Corporation, Speciale Invest, Lingotto, and TVS Motor Company. Other notable investors in Ultraviolette include Sriharsha Majety (Co-founder & CEO, Swiggy), Ankit Nagori (Co-founder, Cure Foods), Aprameya Radhakrishna (Co-founder, TaxiForSure), and Dulquer Salmaan (renowned actor and automotive enthusiast).
TDK Ventures is committed to supporting disruptive startups that are driving scalable solutions in energy, mobility, and sustainability. Its investment, as part of Ultraviolette’s latest funding round, represents TDK Ventures’ commitment to advancing sustainable transportation technologies globally. This strategic investment positions TDK Ventures at the forefront of India’s electric two-wheeler revolution. In late 2023, TDK Ventures launched its Bengaluru Innovation Hub to empower India’s exceptional entrepreneurs to scale their technologies globally.
Scaling Up for Global and Domestic Growth
Founded with a vision to craft electric vehicles that combine futuristic designs with precision engineering, Ultraviolette is now scaling up manufacturing and accelerating research. The company is actively expanding its retail footprint across India, scaling from its current presence in 20 cities to over 100 cities nationwide.
Ultraviolette’s flagship motorcycle, the F77, has already set new benchmarks in performance, safety, and technology. It has established itself as one of the world’s most advanced electric two-wheelers. The F77 is also the first Indian E2W to receive European Certification and to be sold across 10 countries in Europe. This partnership with TDK Ventures will fast-forward Ultraviolette’s efforts, from advanced battery platforms to intelligent vehicle systems, and reinforce its commitment to delivering electric vehicles that are both aspirational and globally relevant.
Frequently Asked Questions (FAQs)
Q1: What is the new investment announced by Ultraviolette? A: Ultraviolette has announced a strategic investment from TDK Ventures, the corporate venture capital arm of TDK Corporation.
Q2: How much capital did Ultraviolette raise in this funding round? A: The investment is part of a funding round of $21M.
Q3: What are some of Ultraviolette’s existing institutional investors? A: Ultraviolette’s institutional investors include Qualcomm Ventures, Zoho Corporation, Speciale Invest, Lingotto, and TVS Motor Company.
Q4: What are Ultraviolette’s plans for its retail network in India? A: Ultraviolette is actively expanding its retail footprint across India, with plans to scale from its current presence in 20 cities to over 100 cities nationwide.
Q5: What is the significance of the F77 in the European market? A: The F77 is the first Indian electric two-wheeler (E2W) to receive European Certification and to be sold across 10 countries in Europe.
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