Bengaluru-based electric motorcycle maker Ultraviolette Automotive has secured US$ 45 million in fresh growth capital, led by Zoho and Europe-based investment firm Lingotto. The funding — part of its ongoing Series E round — marks a significant push for production scale-up, product expansion, and international ambitions
What’s New — The $45 M Injection & Where It’s Headed
- The investment round is led by Zoho Corporation and Lingotto, a firm linked to global mobility and performance-brand investments.
- Proceeds will go toward ramping up production of existing models — the premium electric sport-bike F77 and the newly launched crossover X‑47.
- The funding also supports development of upcoming platforms, internally codenamed “Shockwave” and “Tesseract.”
- Ultraviolette aims to scale its manufacturing capacity: adding shifts at its current plant, bringing another production line online, and launching a new facility — to meet rising demand.
Why This Funding Round Matters — Growth, Global Ambition & EV Momentum
- Accelerated production & expansion: With this capital, Ultraviolette can better meet growing demand in India and abroad, especially as it expands sales to more cities and global markets.
- Backing from established investors: Zoho’s participation — led by its founders — and Lingotto’s global investment pedigree signal strong investor confidence in Ultraviolette’s vision and business model.
- Product & tech expansion: With plans for new models and next-gen EV platforms, this infusion supports both hardware scaling and R&D — positioning Ultraviolette to compete not just on existing bikes but a broader EV lineup.
- Progress toward global footprint: Ultraviolette already sells its F77 in multiple European markets; the fresh funds may speed up its global ambitions, including more exports and international presence.
Implications for India’s EV Landscape & Buyers
- For the Indian EV market, Ultraviolette’s growth — backed by solid funding — brings hope for more performance-oriented electric two-wheelers beyond budget scooters.
- As production scales up, prices may become more competitive, and availability could widen across cities — improving access to premium EV bikes.
- For buyers looking for high-performance, long-range EV bikes (sport or crossover), Ultraviolette could emerge as a serious alternative to ICE bikes or conventional EV scooters.
- For the industry overall, successful scaling of firms like Ultraviolette may attract more investment into EV startups, battery tech, and India-made mobility solutions.
What’s Next — What to Watch
- Watch for official disclosure on the total size of Series E, valuation terms, and potential IPO timeline. Some reports suggest Ultraviolette aims for an IPO by FY 2027-28. Business Standard+2VCCircle+2
- Keep an eye on roll-out of new models (Shockwave, Tesseract) and expansion to international markets — key to validating global ambition.
- Monitor production capacity growth, delivery timelines, and how Ultraviolette manages scale — crucial for performance, customer satisfaction, and long-term sustainability.
