Funding
Ultraviolette raises Rs 112.5 crore from TVS and Zoho
By Startup Enthusiast ·
- Date
- Company
- Ultraviolette
- What it does
- TVS Motor, Zoho
- Kind
- Funding
- Amount
- Rs 112.5 crore
- Stage
- Series C
- Based in
- Bengaluru
- Founded
- 2016
What they do
TVS Motor put in Rs 75 crore and Zoho Rs 37.5 crore in a Series C round led by the two-wheeler maker, an early backer
What happened
The Bengaluru startup was building its assembly plant in Electronics City to start making the F77 electric motorcycle
Why it matters
It said the F77 had drawn more than 50,000 booking interests worldwide, with test rides and deliveries planned for early 2022
The details
- Ultraviolette raised Rs 112.5 crore (about $15 million) in Series C.
- TVS Motor invested Rs 75 crore; Zoho Rs 37.5 crore.
- Zoho got about a 2.5% stake.
- A year earlier it had raised Rs 50 crore from TVS and GoFrugal.
- The money went to making and launching the F77.
The bigger picture
- It paid for the factory needed to start selling bikes.
- A large two-wheeler maker backing it gave the startup weight.
- It brought in Zoho, which backed every later round.
About the business
- Ultraviolette designs and builds premium electric motorcycles in Bengaluru, led by the F77 and the X-47.
- It sells in India and in about 19 European countries, and is adding a scooter (Tesseract) and a cheaper bike (Shockwave).
- Money comes from vehicle sales, with a battery subscription option to lower the upfront price.
Investors
Founders
- Narayan Subramaniam, Co-founder and CEO
- Niraj Rajmohan, Co-founder and CTO
About Ultraviolette
- Product
- Electric two-wheelers, including motorcycles and upcoming scooter and dirt-bike models.
- Customers
- Consumers buying electric motorcycles and other EV two-wheelers.
- How it makes money
- Sells vehicles directly to end customers through an automotive retail model.
- Operations
- Expanding manufacturing capacity in Karnataka and Tamil Nadu.
Other articles talking about it
More on Ultraviolette
- Ultraviolette bags $85 million to fuel global EV expansion27 September 2026 · Funding · $85M
- Kolkata Police add 183 Ultraviolette electric bikes21 September 2026 · Partnership
- Ultraviolette raises Rs 373 crore in Series E round11 September 2026 · Funding · Rs 373.04 crore
- Ultraviolette in talks to raise $45-50 million from existing investors21 August 2026 · Funding · $45-50 million
- Ultraviolette plans 1.5 lakh unit capacity before IPO17 July 2026 · Launch
- Ultraviolette enters six more European countries7 April 2026 · Launch
- Ultraviolette to invest Rs 200 crore in Karnataka expansion27 March 2026 · Launch · Rs 200 crore
- Ultraviolette cuts bike prices with battery subscription5 March 2026 · Launch