Funding · Mobility & Logistics

Ultraviolette raises Rs 373 crore in Series E round

By Startup Enthusiast · 11 September 2026

What they do

Ultraviolette designs and manufactures high-performance electric motorcycles and energy infrastructure

It is raising Rs 373.04 crore in a Series E round led by Yali Capital, with TDK Ventures and Speciale Invest

Funds will expand its BIGGA Factory in Hosur and Bengaluru plant, targeting 300,000 units annual capacity by mid-2027

Ultraviolette Automotive is raising Rs 373.04 crore in an ongoing Series E round.
The round includes Rs 197.5 crore from Series E3 CCPS and Rs 175.5 crore from Series E4 CCPS.
Yali Capital is contributing Rs 249.2 crore as a first-time investor in the company.
TDK Ventures is participating, having first invested in August 2025.
Speciale Invest is participating as an existing investor.
Angel investors include Adi Hirji Jehangir, Anshumi Desai, Janak Desai, Mahak Khabia, and Zafar Ahmadullah.
The company has raised over $135 million to date, including a $45 million Series E from Zoho and Lingotto in December 2025.

The funds will be used for manufacturing expansion at the BIGGA Factory in Hosur and the Bengaluru plant.
The company plans to invest Rs 1,000 crore over five years: Rs 800 crore for BIGGA Factory and Rs 200 crore for Bengaluru.
BIGGA Factory will have an initial capacity of 250,000 vehicles per year, scalable to 500,000.
The Bengaluru plant capacity will expand from 30,000 to 50,000-60,000 vehicles per year.
Combined capacity target is 300,000 units per year by mid-2027.

Ultraviolette designs and manufactures high-performance electric motorcycles and energy infrastructure.
Its products include the F77 Mach 2, F77 Superstreet, Tesseract (scooter), and Shockwave (enduro motorcycle).
The Tesseract launch has been delayed to Q1 2027 due to a 100-volt architecture redesign.
The company is present in 14 countries globally and over 100 Indian cities by end of 2026.
It currently exports to 19 countries in Europe and entered the UK market in November 2025.
The company's motorcycles offer an IDC range of 323 km, an 8-year/800,000 km battery warranty, and 5-level battery safety.
Charging uses the UV LYNC Type-2 interface with access to 4,000+ AC car charging stations in India and Supernova chargers at Hindustan Petroleum.
FY25 operating revenue was Rs 32.3 crore, up from Rs 15 crore in FY24; loss was Rs 116 crore, up from Rs 61.6 crore.

The BIGGA Factory's first phase is expected to be operational in Q1-Q2 2027.
Exports are targeted at 15-25% of BIGGA Factory output, initially 15% rising to 25%.
Exports are expected to contribute 25% of revenue over the next five years.
The company plans an IPO when it has six products across four continents and 300,000 annual production.
Company-level profitability is expected within 24 months, around the IPO timing.

Yali Capital (lead) — First-time investor in Ultraviolette, contributing Rs 249.2 crore through Yali Deeptech Fund I.
TDK Ventures (participated) — First invested in Ultraviolette in August 2025, leading a $21 million round.
Speciale Invest (participated) — Existing investor in 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.