Ultraviolette secures $85 million to ramp up electric two-wheeler production

Ultraviolette Automotive announced Wednesday it has secured $85 million in a funding round led by Yali Capital and TDK Ventures, marking a significant step in the company's expansion strategy. The capital injection will support scaling of manufacturing operations and fuel the company's international growth ambitions, particularly its planned entry into the US market within the next two years.

The Bengaluru-based electric two-wheeler maker currently operates in India and 20 European countries, with international sales representing approximately 15 per cent of total volumes. The company expects this proportion to increase to 25 per cent as it scales operations across global markets.

Ultraviolette will deploy the fresh capital across multiple growth initiatives, including enhanced production capacity for its existing F77 and X-47 models, as well as manufacturing of upcoming products Tesseract and Shockwave, according to CEO and co-founder Narayan Subramanian. The investment represents a growth-stage commitment aimed at supporting the next phase of the company's expansion across manufacturing, product development, and market penetration.

The funding comes as India's electric two-wheeler sector continues to gain momentum, driven by rising environmental awareness and government incentives promoting electric vehicle adoption across the country.