Bengaluru: Electric two-wheeler maker Ultraviolette on Wednesday said it has raised USD 85 million in a fresh funding round led by deep-tech fund Yali Capital and TDK Ventures, with participation from Walden International Chairman Lip-Bu Tan, an advisor to the company, as well as its existing and long-term investors.
The funding marks an important milestone in Ultraviolette’s journey as it scales its manufacturing capabilities, advances the development of its next generation of electric vehicle platforms and accelerates its international expansion. The company is targeting entry into the United States in 2027, alongside a broader expansion across key markets in Latin America and South-East Asia.
Ultraviolette will deploy the capital towards scaling production for its current products F77 and X-47 and upcoming products, Tesseract and Shockwave, to serve the rapidly growing domestic and international demand.
This investment will also support the development of Ultraviolette’s next generation of global EV platforms. These platforms will build upon the company’s vertically integrated capabilities across battery technology, power electronics, vehicle architecture and intelligent software.
Lip-Bu Tan, Chairman of Walden International commented, “What I really like about Ultraviolette is the combination of deep engineering expertise, strong IP, and the willingness to take on genuinely difficult problems. They have built the technology from first principles and are focused on creating something that is truly differentiated for the long term.”
Ganapathy Subramaniam, Founding Managing Partner, Yali Capital said, “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. Ultraviolette has taken the F77 from concept to
the roads in India and Europe, and brought radar-based safety features into a production two-wheeler with the X-47. With the Tesseract, launching early next year, they will bring this engineering and safety focus to scooters and a much wider set of riders. This combination of deep technology, product focus and ambition gives us strong conviction in Ultraviolette, and we are proud to back them.”
Ravi Jain, Investment Director, TDK Ventures commented, “The adoption of electric two-wheelers can be accelerated by superior products powered by differentiated technology. We continue to believe that Ultraviolette is best positioned to catalyze this transition and build winning products for global markets.”
Ultraviolette Founders Narayan Subramaniam & Niraj Rajmohan, shared “This funding round represents an important step in Ultraviolette’s evolution into a global electric mobility company. 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 focused global brand out of India. This investment will enable us to scale manufacturing, accelerate the development of our future product platforms and deepen our presence across international markets. Our single minded focus is about being a global leader in future mobility; electric vehicles that bring together uncompromising performance, future centric design and advanced technology.”
Ultraviolette has built deep technical capabilities spanning battery architectures from 48V to 400V, enabling the company to develop electric mobility solutions across multiple vehicle segments and performance requirements. Ultraviolette is one of the only electric vehicle manufacturers globally with in-house technology capabilities spanning this range of battery architectures. This breadth of expertise gives the company the ability to engineer platforms around the specific performance, range, thermal-management and packaging requirements of different vehicle categories.
