Indian electric two-wheeler startup Ultraviolette has raised $45 million in fresh funding as part of its ongoing Series E round, the company said, as it looks to expand its retail presence and accelerate the rollout of new models. The latest investment was led by Zoho Corporation and Lingotto, a wholly owned subsidiary of Exor, providing additional capital to support both domestic and international growth.
Ultraviolette co-founder and Chief Executive Officer Narayan Subramaniam said the new investors align with the company’s long-term ambitions. “Lingotto’s legacy of backing iconic performance and mobility brands, combined with Zoho’s long-term commitment to fostering cutting-edge Indian innovation, aligns perfectly with Ultraviolette’s mission to build category-defining electric mobility solutions for India and global markets,” Subramaniam said. Chief Technology Officer and co-founder Niraj Rajmohan added that the funding “will accelerate our journey towards scaling into India and global markets.”
The latest round follows a $21 million raise in August from the same institutional investors and TDK Ventures, the venture capital arm of Japan’s TDK Corporation, which led that earlier round. Other backers of the Bengaluru-based company include TVS Motor Company, Qualcomm Ventures and Speciale Invest. Ultraviolette currently sells two premium electric motorcycles, the F77 sports bike and the X-47 adventure bike, while preparing to introduce the Shockwave enduro model and the Tesseract maxi-scooter in 2026.
Ultraviolette operates in around 30 Indian cities and is targeting expansion to 100 locations by mid-2026. The company is also exporting its F77 model to 12 European markets. It plans to gradually introduce more affordable models and build a portfolio of 14 electric two-wheelers by 2028 as it seeks to scale beyond the premium segment.