Ultraviolette raises $85 million funding led by deep tech fund Yali Capital, TDK Ventures

Electric two-wheeler startup Ultraviolette on Wednesday announced a new funding round of $85 million led by Deep Tech Fund Yali Capital and TDK Ventures and investment from LipBu Tan, Chairman of Walden International and adviser to Ultraviolette, alongside the automaker's current and long-term investors.

The funding comes as the Bengaluru-based EV startup is gearing up to enter the United States in 2027, alongside a broader expansion across key markets in Latin America and South-East Asia.

Ultraviolette said it will deploy the capital towards scaling production for its current products F77 and X-47 and upcoming products, Tesseract and Shockwave, to serve the domestic and international demand.

This investment will also support the development of Ultraviolette’s next generation of global EV platforms.

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“This funding round represents an important step in Ultraviolette’s evolution into a global electric mobility company,” Ultraviolette founders Narayan Subramaniam and Niraj Rajmohan said in a statement.

“This investment will enable us to scale manufacturing, accelerate the development of our future product platforms and deepen our presence across international markets,” the founders added.

The fresh infusion of funds follows Ultraviolette’s announcement of its new manufacturing facility scaling production up to 500,000 units annually.

India’s shift towards cleaner mobility will increasingly be driven by electric two-wheelers, given the scale of the segment, according to Ganapathy Subramaniam, Founding Managing Partner, Yali Capital.

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Lip-Bu Tan, Chairman, Walden International, said Ultraviolette’s strengths lie in deep engineering expertise, proprietary IP and tackling difficult problems.

Ravi Jain, Investment Director, TDK Ventures, said differentiated technology and superior products can accelerate electric two-wheeler adoption.