Bengaluru-based electric vehicles (EV) maker Ultraviolette today said it has raised $85 million in a funding round led by Deep Tech Fund Yali Capital and TDK Ventures and investment from Lip Bu Tan, Chairman of Walden International & Advisor to Ultraviolette, alongside Ultraviolette’s current and long-term investors.
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The funding comes as the company scales its manufacturing capabilities, advances the development of its next generation of electric vehicle platforms and accelerates its international expansion.
It is targeting entry into the United States in 2027, alongside a broader expansion across key markets in Latin America and South-East Asia.
Ultraviolette will deploy the capital towards scaling production for its current products F77 and X-47 and upcoming products, Tesseract and Shockwave, to serve the rapidly growing domestic and international demand.
The startup will also focus on supporting the development of its next generation of global EV platforms. These platforms will build upon the company’s vertically integrated capabilities across battery technology, power electronics, vehicle architecture and intelligent software, it said.
Lip-Bu Tan, Chairman of Walden International, said, “What I really like about Ultraviolette is the combination of deep engineering expertise, strong IP, and the willingness to take on genuinely difficult problems. They have built the technology from first principles and are focused on creating something that is truly differentiated for the long term.”
Ganapathy Subramaniam, Founding Managing Partner, Yali Capital, said, “India’s shift towards cleaner mobility will increasingly be driven by electric two-wheelers, given the scale of the segment. What attracted us to Ultraviolette is the depth of engineering the team has built in house; from the battery, powertrain to software and radar and their focus on applying this technology to real rider needs, especially safety.”
“Ultraviolette has taken the F77 from concept to the roads in India and Europe, and brought radar-based safety features into a production two wheeler with the X-47. With the Tesseract, launching early next year, they will bring this engineering and safety focus to scooters and a much wider set of riders. This combination of deep technology, product focus and ambition gives us strong conviction in Ultraviolette, and we are proud to back them.”
Ultraviolette Founders Narayan Subramaniam & Niraj Rajmohan, shared “This funding round represents an important step in Ultraviolette’s evolution into a global electric mobility company. The conviction demonstrated by Yali Capital, TDK Ventures, Lip-Bu Tan and our long-term investors reinforces our vision of building a design and tech focused global brand out of India. This investment will enable us to scale manufacturing, accelerate the development of our future product platforms and deepen our presence across international markets. Our single minded focus is about being a global leader in future mobility; electric vehicles that bring together uncompromising performance, future centric design and advanced technology.”
