Bengaluru: Bengaluru-based electric two-wheeler manufacturer Ultraviolette Automotive has raised $85 million (around Rs 807 crore) in a new funding round as it prepares to scale production, develop next-generation electric vehicle platforms and expand into international markets. The company is targeting entry into the US market in 2027, while also planning a wider expansion across Latin America and Southeast Asia.
The funding round was led by deep-tech investment firms Yali Capital and TDK Ventures. Lip-Bu Tan, chairman of Walden International and Intel CEO, also participated in the round and has joined Ultraviolette as an adviser. Existing and long-term investors also participated.
The fresh capital comes as the company moves towards a larger manufacturing footprint and a broader product portfolio.
Funds to support new EV platforms
Ultraviolette said the newly raised funds will be used to scale production of its existing products, including the F77 and X-47 Crossover, while also supporting the upcoming Tesseract electric scooter and Shockwave enduro motorcycle.
A portion of the investment will go towards developing the company’s next generation of global EV platforms. These platforms are being developed around its in-house capabilities in battery technology, power electronics, vehicle architecture and intelligent software.
The Bengaluru-based company currently sells its products in India and 20 European countries. It is also preparing for expansion into additional international markets, with the US identified as a target market for 2027.
Ultraviolette plans production capacity of 5 lakh units
The latest fundraise follows Ultraviolette’s announcement of a new manufacturing facility at SIPCOT Industrial Park in Shoolagiri, Hosur, Tamil Nadu.
The facility, named BIGGA (Big Global Ambition), will initially have an annual production capacity of around 2.5 lakh vehicles, with the company planning to scale it to 5 lakh units annually as demand increases. The plant will manufacture the upcoming Tesseract and support future products across the company’s motorcycle and scooter portfolio.
The expansion is expected to give Ultraviolette additional capacity as it increases its presence in both domestic and overseas markets.
US entry planned for 2027
Ultraviolette has identified the United States as a key international market, with entry targeted for 2027. The company is also looking to expand across Latin America and Southeast Asia.
The company already has an international presence in Europe and has secured European certification for its motorcycles. Its products are currently available across 20 European countries, according to the company.
The planned US expansion will add another major market to Ultraviolette’s international strategy as the company works towards becoming a global electric mobility manufacturer.
Current and upcoming Ultraviolette models
Ultraviolette’s current portfolio includes the F77 electric motorcycle and X-47 Crossover. The company is also preparing to launch the Tesseract electric scooter and Shockwave enduro motorcycle.
The fresh investment is expected to support the manufacturing scale-up of these models and help the company develop future EV platforms for different vehicle categories.
The company has developed battery architectures ranging from 48V to 400V, allowing it to work on EV platforms with different performance, range, thermal-management and packaging requirements.
Lip-Bu Tan joins as adviser
The funding round also brings technology executive Lip-Bu Tan into an advisory role at Ultraviolette.
Tan, who is chairman of Walden International and Intel’s CEO, participated in the latest funding round. His involvement comes as Ultraviolette seeks to strengthen its technology-led approach while expanding internationally.
The company said the investment will support its transition towards larger-scale manufacturing and the development of global electric mobility products.
International sales form part of growth strategy
Ultraviolette’s international business is already contributing to its overall sales. According to company statements reported by PTI, international sales account for around 15 per cent of overall volumes, with the company expecting that share to rise towards 25 per cent as its global operations expand.
The company is therefore using the latest capital not only for manufacturing but also for product development and expansion into new markets.
Focus on technology and battery development
Ultraviolette has built its EV technology stack around battery systems, power electronics, vehicle architecture and software. The company says its battery architecture range allows it to develop products for multiple segments.
Its technology strategy is intended to allow common engineering capabilities to support motorcycles and scooters with different performance and range requirements. The company has also highlighted its vertically integrated approach to EV development.
The latest funding round gives the company additional capital to continue this development while increasing production of its current and upcoming vehicles.
Conclusion
Ultraviolette Automotive has raised $85 million, or around Rs 807 crore, as it prepares for its next phase of growth. The Bengaluru-based EV maker plans to use the funds to increase production, support the F77, X-47, Tesseract and Shockwave, and develop next-generation global EV platforms. With a manufacturing facility planned to reach 5 lakh units of annual capacity and US entry targeted for 2027, the company is also expanding its international footprint.