PE-VC Fund Investments
Electric bike maker Ultraviolette attracts Rs.373-Cr from Yali Capital, TDK Ventures, others
Inc42 Ultraviolette Automotive
Bengaluru-based electric two-wheeler manufacturer Ultraviolette Automotive has raised INR 373.04 crore as part of its ongoing Series E funding round. The transaction included the allotment of 8.15 lakh Series E3 CCPS (compulsorily convertible preference shares), aggregating to INR 197.5 crore, and 7.24 lakh Series E4 CCPS netting INR 175.5 crore.Yali Capital, TDK Ventures, and a host of angel investors, including Adi Hirji Jehangir, Anshumi Desai, Janak Desai, Mahak Khabia, and Zafar Ahmadullah, participated in this round.Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette Automotive makes high-performance electric motorcycles, with its product portfolio spanning performance, crossover, cruiser, street and scooter models. The company plans to use the new funds for the development of its new manufacturing facility in Hosur.
Between Mar 2016 and Aug 2025, Ultraviolette Automotive had attracted about USD 119 M from Speciale Invest, TVS Motor, Lingotto, Qualcomm Ventures, Mudhal Partners, Zoho, TDK Ventures, Breathe Capital and others.For FY25, Ultraviolette Automotive had reported about INR 32 Cr in Operating Income and about INR 116 Cr in Net loss.
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