PE-VC Fund Investments
Electric bike maker Ultraviolette raises $45-M from Zoho, Ferrari-owner Exor’s Lingotto
Bengaluru-based electric motorcycle maker Ultraviolette has raised USD 45 million from Zoho Corporation and Italy-based investment firm Lingotto. This funding is part of an ongoing funding round, which previously saw USD 21 million raised from TDK Ventures in August.Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette designs and manufactures high-performance electric two-wheelers, focusing on performance-orientated electric motorcycles with advanced features, with design influenced by aerospace and energy-efficient technology.The new funds will be used to scale its existing F77 electric sports bike and X-47 crossover motorcycle models. The funding will also be directed towards advancing new product platforms, codenamed Shockwave and Tesseract. The company is expanding its retail footprint from 30 Indian cities to a target of 100 by mid-2026 and has begun selling the F77 model in the UK this year, expanding its international presence to 12 countries.
Between Dec 2017 and Aug 2025, Ultraviolette Automotive had attracted about USD 74 M from TVS Motor, Zoho, Lingotto, Qualcomm Ventures, Breathe Capital, TDK Ventures 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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