Electric mobility startup Ultraviolette Automotive has raised $45 million in its ongoing Series E funding round, backed by Zoho Corporation and Italy-based Lingotto. The company has not disclosed the full size of the round or its valuation. The raise follows the $21 million secured from TDK Ventures earlier in August. Ultraviolette has now accumulated $145 million in total funding, supported by key investors including TVS Motor Company and Mudhal Partners.
Scaling Production of F77 and X47 Motorcycles
Ultraviolette will use the new capital to ramp up production of its flagship electric motorcycles — the F77 sports bike and the newly launched X47 crossover. The firm is also progressing on two next-generation product lines, internally named Shockwave and Tesseract, designed to strengthen its presence in the high-performance EV segment.
Aggressive Domestic and Global Expansion Plans
To capture growing demand, the company is expanding its retail footprint across India. Ultraviolette currently operates in 30 cities and aims to reach 100 cities by mid-2026. Internationally, it has begun selling the F77 in the United Kingdom, extending its market reach to 12 European countries. This marks a key milestone in its global expansion strategy.
Revenue Growth and Rising Losses
Operationally, Ultraviolette sold 1,168 vehicles in 2025, according to Vahan data. Revenue increased to ₹32.3 crore in FY25, up from ₹15 crore in FY24. However, net losses widened 88% to ₹116 crore, driven by accelerated investments in R&D, manufacturing scale-up, and overseas expansion.
Competitive Landscape in India’s EV Market
Ultraviolette faces rising competition from Tork Motors, Revolt Motors, and Ola Electric’s Roadster. With fresh Series E capital and growing international momentum, the company aims to strengthen its positioning as a premium, performance-focused electric motorcycle brand built for global markets.
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