Series C Investment raised from TVS Motor Company and Zoho Corporation for Ultraviolette Automotive Pvt Ltd
Electric two wheelers are a key focus area for manufacturers. This has ensured regular investments for new-ish companies. Opportunities have widened and so have the scope of investments. No disclosure has been made regarding the amount raised.
The fresh round invested will will be channelled towards production of Ultraviolette F77 motorcycle. Narayan Subramaniam, Founder and CEO, Ultraviolette Automotive Pvt. Ltd. said, “Innovation, design, and performance are critical elements for triggering a revolution, and I believe that Ultraviolette personifies these elements to deliver an exhilarating mobility experience.
Consumer preference will change when EV’s deliver performance and experience, surpassing the current generation of IC engine bikes. This investment from TVS Motor Company and ZOHO Corp. is a validation of our endeavour to redefine the future of mobility.”
F77 motorcycle debut in H1 2022
Ultraviolette Automotive’s Series C funding was led by TVS Motor Company. Zoho Corporation has invested. TVS Motor Company is an early backer, and led investment in this round. Ultraviolette’s vision of developing high performance mobility solutions for India and global markets.
Ultraviolette’s manufacturing and assembling facility is being set up in Electronics City, Bengaluru. Fresh investments are being channelled towards production and commercial launch the F77 electric motorcycle. This takes us a step closer to the roll out of the first batch of F77 motorcycles in H1 2022. Over 50k booking interests have been factored in. The electric two wheeler company is focused on future-ready mobility ecosystem tech.
Ultraviolette F77 testing
In the buildup to launch, Ultraviolette F77 is undergoing critical test cycles across varied terrains. This data validates drivetrains, chassis and battery capability basis quantitative and qualitative parameters. As far as natural progression towards a big fat commercial launch, Ultraviolette states it’s in the final stages of testing, and is nearing production start.
Sudarshan Venu, Joint Managing Director, TVS Motor Company, stated, “EVs are a huge focus area for us and we have invested in this area for over a decade. TVS is committed to developing exciting and aspirational products and we have always believed that EV development has to be ground-up for us to make that quantum leap into the global EV revolution.
Ultraviolette brings these values to life in a unique way in the F77, and we are excited to support this! We are delighted that we chose to partner with them at an early stage, and I am confident that Ultraviolette’s EV line-up will see rapid adoption across the country and the world.”
Source: Bike - rushlane.com
