Ultraviolette Secures $45M for EV Expansion
December 5, 2025, 3:31 pm
Ultraviolette scores $45M. Zoho and Lingotto invest. Funds to boost production. Expansion planned. Aims for 100 cities by 2026.
Bangalore, India – Electric vehicle (EV) manufacturer Ultraviolette has secured $45 million in its ongoing Series E funding round. The investment comes from Zoho Corporation and European investment firm Lingotto. The funding will accelerate production and expansion plans.
The $45 million investment will support Ultraviolette's growth. Zoho and Lingotto are key investors. This funding follows a previous $21 million raise. TDK Ventures led that round.
Ultraviolette plans significant expansion. They aim to reach 100 cities by mid-2026. Currently, they operate in 30 cities across India. Global markets are also a focus.
The funding will boost product development. Ultraviolette will advance battery technology. Performance capabilities will be enhanced. Production will support new platforms. The F77 and X-47 models are key. Upcoming models include Shockwave and Tesseract.
Narayan Subramaniam, Ultraviolette's CEO, highlighted the importance of the investment. He emphasized building category-defining EVs. Niraj Rajmohan, CTO, stressed scaling production. He also mentioned advancing battery tech.
Ultraviolette faces competition. Oben Electric, Ola Electric, and Ather Energy are rivals. The EV two-wheeler market is growing. Legacy companies lead in sales. TVS Motor and Bajaj Auto are major players. Ather and Hero MotoCorp also compete. Ola Electric is another key player.
Ultraviolette reported Rs 36.1 crore revenue. This was for fiscal year 2025. However, the company also reported a Rs 116.3 crore loss. This reflects the challenges in the EV market.
Zoho's investment shows faith in Indian deeptech. Sridhar Vembu led Zoho's participation. This aligns with Zoho's commitment. They want to foster innovation in India.
Lingotto invests in performance mobility. The firm is part of Exor NV. Exor NV owns Ferrari. Lingotto’s investment aligns with its portfolio.
Ultraviolette was founded in 2016. The founders are Narayan Subramaniam and Niraj Rajmohan. The company focuses on electric two-wheelers. They also develop EV infrastructure. Ultraviolette aims to differentiate itself. They focus on core tech development. This sets them apart from competitors.
Ultraviolette is expanding globally. They began selling the F77 in the UK in 2025. Their presence now extends to 12 countries. The company aims to capture a global market share.
The EV market is competitive. Ultraviolette aims for growth. The new funding supports ambitious plans. They want to expand production. They also want to enhance technology. Global expansion is a key goal. Ultraviolette aims to become a leader in the EV space.
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Ultraviolette Secures $45M Series E Funding to Fuel EV Expansion
Bangalore, India – Electric vehicle (EV) manufacturer Ultraviolette has secured $45 million in its ongoing Series E funding round. The investment comes from Zoho Corporation and European investment firm Lingotto. The funding will accelerate production and expansion plans.
Funding Details
The $45 million investment will support Ultraviolette's growth. Zoho and Lingotto are key investors. This funding follows a previous $21 million raise. TDK Ventures led that round.
Expansion Plans
Ultraviolette plans significant expansion. They aim to reach 100 cities by mid-2026. Currently, they operate in 30 cities across India. Global markets are also a focus.
Product Development
The funding will boost product development. Ultraviolette will advance battery technology. Performance capabilities will be enhanced. Production will support new platforms. The F77 and X-47 models are key. Upcoming models include Shockwave and Tesseract.
Executive Insights
Narayan Subramaniam, Ultraviolette's CEO, highlighted the importance of the investment. He emphasized building category-defining EVs. Niraj Rajmohan, CTO, stressed scaling production. He also mentioned advancing battery tech.
Market Position
Ultraviolette faces competition. Oben Electric, Ola Electric, and Ather Energy are rivals. The EV two-wheeler market is growing. Legacy companies lead in sales. TVS Motor and Bajaj Auto are major players. Ather and Hero MotoCorp also compete. Ola Electric is another key player.
Financial Performance
Ultraviolette reported Rs 36.1 crore revenue. This was for fiscal year 2025. However, the company also reported a Rs 116.3 crore loss. This reflects the challenges in the EV market.
Zoho's Role
Zoho's investment shows faith in Indian deeptech. Sridhar Vembu led Zoho's participation. This aligns with Zoho's commitment. They want to foster innovation in India.
Lingotto's Strategy
Lingotto invests in performance mobility. The firm is part of Exor NV. Exor NV owns Ferrari. Lingotto’s investment aligns with its portfolio.
Ultraviolette's Vision
Ultraviolette was founded in 2016. The founders are Narayan Subramaniam and Niraj Rajmohan. The company focuses on electric two-wheelers. They also develop EV infrastructure. Ultraviolette aims to differentiate itself. They focus on core tech development. This sets them apart from competitors.
Global Footprint
Ultraviolette is expanding globally. They began selling the F77 in the UK in 2025. Their presence now extends to 12 countries. The company aims to capture a global market share.
Future Outlook
The EV market is competitive. Ultraviolette aims for growth. The new funding supports ambitious plans. They want to expand production. They also want to enhance technology. Global expansion is a key goal. Ultraviolette aims to become a leader in the EV space.
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