New Delhi, Sept. 23 -- Electric motorcycle maker Ultraviolette Automotive has raised $85 million (around Rs 814 crore) in a fresh funding led by deeptech-focussed venture capital firm Yali Capital and TDK Ventures, the venture capital arm of Tokyo-based electronics manufacturer TDK Corporation.
Lip-Bu Tan, Chairman of Walden International, and its existing investors also participated in the round. Lip-Bu Tan will join Ultraviolette as an advisor.
The funding comes as the company looks to scale up manufacturing and expand overseas. It is targeting entry into the United States in 2027, alongside a broader expansion across key markets in Latin America and South-East Asia, it said in a statement.
The fresh capital will be used towards scaling up production for its current products F77 and X-47 and upcoming products, Tesseract and Shockwave. It will also support the development of EV platforms that are built on its vertically integrated capabilities across battery technology, power electronics, vehicle architecture and intelligent software.
"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," said Ganapathy Subramaniam, founding managing partner, Yali Capital.
Background, funding
Ultraviolette, set up in 2016, makes electric two-wheelers and mobility infrastructure for electric vehicles. Its products include the F77 Mach 2, F77 SuperStreet, Tesseract, Shockwave, and a UV racing platform. The company competes with Oben Electric, Ola Electric and Ather Energy in the two-wheeler electric vehicles space.
The company is now exporting to 20 countries across Europe including Germany, France, Spain, Portugal, the UK, Belgium, Netherlands, Italy, Switzerland and Hungary.
"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-focussed global brand out of India," said Narayan Subramaniam and Niraj Rajmohan, founders of Ultraviolette.
Ultraviolette last raised $45 million (Rs 404 crore) last December as part of its ongoing Series E round from domestic software company Zoho Corporation and European investment management firm Lingotto. The investment from Zoho was led by Sridhar Vembu, Mani Vembu and Kumar Vembu.
Previously, the Bengaluru-based company raised $21 million (Rs 184 crore) in August 2025 led by TDK Ventures.
Published by HT Digital Content Services with permission from VC Circle.