EV start-up Ultraviolette raises $15 million from TVS Motor, Zoho Corp

Firm is setting up manufacturing and assembling unit in Electronics City, Bengaluru; will use investment for production and launch of its high-performance e-bike, F77; first batch out in H1 of 2022

Bengaluru-based two-wheeler electric vehicle manufacturer Ultraviolette Automotive on Monday announced that it has raised $15 million in its Series C funding from TVS Motor Company and SaaS major Zoho Corporation. TVS Motor Company, which has been an early backer of the company, has led the investment in this round.

Ultraviolette, which is setting up its manufacturing and assembling facility in Electronics City, Bengaluru, will utilize this investment towards the production and commercial launch of its high-performance electric motorcycle, the F77, and will roll out the first batch of motorcycles in the first half of 2022.

“EVs are a huge focus