Ultraviolette, a Bengaluru-based electric motorcycle manufacturer, has secured $45 million in funding as part of its ongoing Series E round. The investment comes from Zoho Corporation and Lingotto, a European investment firm owned by Exor NV, which is controlled by Italy’s Agnelli family. This funding round also saw participation from TDK Ventures, which invested $21 million in August. The new capital will be utilized to scale up production of Ultraviolette’s two current models: the F77 electric sports bike and the X47 crossover.
The company is looking to accelerate its expansion efforts, both domestically and globally, as the electric two-wheeler market becomes increasingly competitive. With the fresh funding, Ultraviolette aims to advance its battery technology, enhance performance capabilities, and expand production to support upcoming product platforms. The company’s CTO and Co-Founder, Niraj Rajmohan, stated that the investment will help Ultraviolette scale its operations in India and global markets.
In the past 12 months, Ultraviolette has expanded its presence to 30 cities across India and plans to reach 100 cities by mid-2026. The company has also begun selling its F77 model in the UK, increasing its European footprint to 12 countries. This expansion is a significant milestone for the company, and the new funding will help Ultraviolette to further accelerate its growth plans.
The investment from Zoho Corporation was led by Sridhar Vembu, Mani Vembu, and Kumar Vembu, highlighting the company’s confidence in Ultraviolette’s potential. With the electric two-wheeler market expected to grow significantly in the coming years, Ultraviolette is well-positioned to capitalize on this trend. The company’s focus on advancing battery technology and expanding its production capabilities will help it to stay competitive in the market and achieve its growth objectives. Overall, the new funding is a significant boost for Ultraviolette, and the company is poised for rapid growth and expansion in the electric two-wheeler market.