Ultraviolette Raises Series C Investment from TVS and Zoho
Ultraviolette Automotive, an innovator in sustainable mobility, has raised a new round of capital in its Series C funding, led by TVS Motor Company along with Zoho Corporation, to support its vision of developing high-performance mobility solutions for India and global markets.
December 13, 2021. By Manu Tayal
TVS Motor Company, which has been an early backer of the company, has led the investment in this round.
Ultraviolette, which is setting up its manufacturing and assembling facility in Electronics City, Bengaluru, will utilize this investment towards the production and commercial launch of its high-performance electric motorcycle, the F77, and will roll out the first batch of motorcycles in the first half of 2022.
Commenting on the investment, Sudarshan Venu, Joint Managing Director, TVS Motor Company, said, “EVs are a huge focus area for us and we have invested in this area for over a decade. TVS is committed to developing exciting and aspirational products and we have always believed that EV development has to be ground-up for us to make that quantum leap into the global EV revolution. Ultraviolette brings these values to life in a unique way in the F77, and we are excited to support this! We are delighted that we chose to partner with them at an early stage, and I am confident that Ultraviolette’s EV line-up will see rapid adoption across the country and the world.”
“What impressed me most about Ultraviolette is their approach towards building the EV experience in the country - one that is focused on high performance, disruptive design and technology, and superior user experience, all built and developed right here in India. There is no doubt that the future of mobility is electric, and innovation has to be at the forefront of product disruption. This approach by Ultraviolette will position India to be a leader in the global EV ecosystem. I am thrilled to support Ultraviolette’s goal towards revolutionizing the mobility landscape globally, and I look forward to the launch of the F77 in the months ahead,” said Sridhar Vembu, Founder and CEO, Zoho Corporation.
The company is currently in the final stages of testing and will commence production of the F77 in the first half of 2022.
Narayan Subramaniam, Founder and CEO, Ultraviolette Automotive, said, “Innovation, design, and performance are critical elements for triggering a revolution, and I believe that Ultraviolette personifies these elements to deliver an exhilarating mobility experience. Consumer preference will change when EV’s deliver performance and experience, surpassing the current generation of IC engine bikes. This investment from TVS Motor Company and ZOHO Corp is a validation of our endeavour to redefine the future of mobility.”
“Since our inception, our goal has been to build a future-ready technology that serves as a game-changer in the mobility ecosystem. And we believe the F77 will redefine the global perception of electric mobility. It is exciting to have investors who have doubled down to back us in our journey towards building cutting-edge mobility solutions for global markets,” said Niraj Rajmohan, Founder and CTO, Ultraviolette Automotive.
Ultraviolette has received over 50,000 booking interests for the F77 from across the world and will begin test rides and deliveries of the motorcycles in the first half of 2022.
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