India, Aug. 12 -- Electric two-wheeler maker Ultraviolette Automotive has secured an equity investment of $21 Mn (around INR 184 Cr) in a round led by TDK Ventures, the venture capital arm of Tokyo-based electronics manufacturer TDK Corporation.
This capital infusion was also supported by other existing investors like Zoho Corporation, TVS Motors, Lingotto, Mudhal Partners and Ojas Consultation. The fresh funding comes just months after Ultraviolette raised INR 130 Cr in a round led by Zoho and other backers in December last year.
Ultraviolette cofounder Niraj Rajmohan told Inc42 that the fresh funds will accelerate Ultraviolette's product portfolio expansion and widen the retail footprint.
On the retail front, he said that the company...
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