VC Fund Investments
EV maker Ultraviolette Automotive raises Rs.32.6 Cr
Entrackr Ultraviolette Automotive
Bengaluru-based electric two-wheeler maker Ultraviolette Automotive has raised INR 32.6 crore (USD 3.85 million) in its Series E1 round (via the issue of 1,13,540 CCPS at INR 2,874 per share). The deal values Ultraviolette at INR 2,887 crore (USD 340 million)The round was led by Winever Industrial Enterprises and Dilip Anand Swadi (INR 10 crore each). The round also saw participation from Breathe Capital (INR 6 crore), Twin & Bull Family Office (INR 2.5 crore) and Mangalam Equity Management (INR 2 crore). Resolute Futurewave and Aprameya Radhakrishna (Founder of Koo and Taxiforsure) will invest INR 1 crore each.Founded in 2016, Ultraviolette Automotive is a two-wheeler manufacturer focused on clean energy and sustainable transportation.
Between Dec-17 and Nov-24, Ultraviolette Automotive had attracted about USD 49 M from TVS Motor, Zoho, Lingotto, Qualcomm Ventures and othersFor FY24, Ultraviolette Automotive had reported about INR 15 Cr in Operating Income and about INR 62 Cr in Net Loss.
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