Ultraviolette Automotive has successfully raised $85 million, or approximately ₹807 crore, in a funding round led by deep-tech funds Yali Capital and TDK Ventures. According to reports from Mint and Business Standard, the electric motorcycle maker is using this fresh capital to scale production, develop new electric vehicle platforms, and expand internationally. The round also includes existing investors such as Speciale Invest and Qualcomm Ventures, with Lip-Bu Tan, chairman of Walden International, joining as both an investor and advisor as the company prepares to expand into the US market. As per Business Standard, this represents a growth-stage investment that will be deployed across multiple areas supporting the next phase of the company's expansion.
The company is currently focused on its existing F77 and X-47 motorcycles, alongside two upcoming products, the Tesseract and Shockwave. As reported by Mint and Business Standard, the fresh capital will support the development of Ultraviolette's next generation of global electric vehicle platforms. According to Business Standard, CEO and co-founder Narayan Subramanian confirmed that the capital will be deployed towards scaling manufacturing of existing products F77 and X-47 and significant investment on scaling manufacturing for upcoming products Tesseract and Shockwave to serve rapidly growing domestic and international demand. Founded in 2016 by co-founders Narayan Subramaniam and Niraj Rajmohan, the Bengaluru-based company designs and manufactures high-performance electric motorcycles and energy infrastructure. The company currently sells its motorcycles in 20 European countries and is preparing for its next phase of international expansion across Europe, Japan, the US, Latin America, and Southeast Asia.
According to Business Standard, Lip-Bu Tan, chairman of Walden International, praised Ultraviolette's combination of deep engineering expertise, strong IP, and willingness to take on genuinely difficult problems. He noted that the company has built technology from first principles and is focused on creating something that is truly differentiated for the long term. Ganapathy Subramaniam, founding managing partner of Yali Capital, highlighted the company's depth of engineering across battery and powertrain to software and radar, emphasizing their focus on applying this technology to real rider needs, especially safety. Ravi Jain, investment director at TDK Ventures, believes the adoption of electric two-wheelers can be accelerated by superior products powered by differentiated technology, stating that Ultraviolette is best positioned to catalyze this transition and build winning products for global markets.
According to Mint reports, Ultraviolette's revenue surged roughly four- to fivefold to ₹130 crore in fiscal year 2026 (FY26). The company has recorded 40-45% quarter-on-quarter growth in the current fiscal year and expects this growth to accelerate with the launch of two new vehicles positioned at more accessible price points. In FY25, Ultraviolette's operating revenue rose to ₹32.3 crore from ₹15 crore a year earlier, while its loss widened to ₹116 crore from ₹61.6 crore in FY24. The company aims to become Ebitda-positive over the next two years, helped by higher volumes and a new manufacturing facility. As per Business Standard, the company currently generates 20% of total revenues from global sales, which has provided strong validation for opportunities outside India.
The company's international expansion is showing strong momentum, with international sales currently accounting for around 15% of overall volumes and expected to rise to 25% as global operations scale. According to Business Standard, CTO and co-founder Niraj Rajmohan noted that 20% of total revenues is driven from global sales, providing strong validation for international opportunities. Ultraviolette is targeting entry into the US market in 2027, alongside expansion across key markets in Latin America and Southeast Asia. The company's international presence currently spans 20 European countries, with the latest fundraise supporting deeper penetration across these established markets while building new capabilities in emerging regions. Ultraviolette has built technical capabilities spanning battery architectures from 48V to 400V, enabling the company to develop electric mobility solutions across multiple vehicle segments and performance requirements.
