Ultraviolette Automotive raises €74 million, plots U.S. launch

Indian electric two-wheeler startup Ultraviolette Automotive has secured an investment of $85 million dollars (~€74 million euros) in a new funding round. It has also announced plans to enter the U.S. market as part of its continued global expansion.

Image: Ultraviolette Automotive

Yali Capital, a Bengaluru (Karnataka)-based venture capital firm that focuses on early-stage deep tech startups, and TDK Ventures led the new funding round. Lip-Bu Tan, the Chairman of American venture capital firm Walden International and CEO of Intel, also participated alongside Ultraviolette’s current and long-term investors.

The fresh capital injection will help Ultraviolette expand production for the existing F77 and X-47 as well as the upcoming Tesseract scooter and Shockwave enduro motorcycle. The funding will also support the development of new-generation global EV platforms.

In addition to investing in Ultraviolette, Tan has joined the Indian startup as an advisor. “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,” he said.

Ultraviolette commenced deliveries of the F77 in the domestic market in early 2023, followed by the X-47 in late 2025. The company plans to start sales of the Tesseract in early 2027, and in an exclusive interview with electrive earlier this month, Chief Product Officer Vinayak Bhat hinted that the Shockwave would arrive in showrooms soon after.

The Indian startup has built a significant global presence over the last two years, entering 20 European markets. It aims to commence operations in the U.S. in 2027 and also plans to expand into Latin America and Southeast Asia.

Ultraviolette manufactures the F77 and X-47 at a factory with an annual production capacity of 30,000 units in Bengaluru. It plans to expand the capacity of the existing plant to 50,000 units and build a 250,000-unit manufacturing facility in Hosur (Tamil Nadu). The new factory’s annual production capacity will be scalable to 500,000 units when required.

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