Indian electric vehicle (EV) startup Ultraviolette has secured a significant $45 million in a funding round led by tech giant Zoho Corporation, marking a major milestone for the Bengaluru-based company.
This investment, which also includes participation from Ferrari-owner Exor’s Lingotto, underscores growing confidence in India’s EV sector as it aims to revolutionize urban mobility.
Driving India’s Electric Vehicle Revolution
The fresh capital is set to accelerate the scaling of Ultraviolette’s flagship models, including the F77 electric sports bike and the newly launched X-47 crossover.
Founded in 2016, Ultraviolette has positioned itself as a pioneer in high-performance electric motorcycles, carving a niche in a market traditionally dominated by internal combustion engines.
The company’s journey reflects India’s broader push towards sustainable transportation, supported by government incentives and rising consumer demand for eco-friendly alternatives.
A Strategic Partnership with Zoho and Beyond
Zoho’s involvement is not just financial; it signals a strategic alignment with Ultraviolette’s vision of leveraging technology for sustainable innovation.
This funding round builds on previous investments from industry heavyweights like TVS Motor Company, highlighting Ultraviolette’s consistent ability to attract prominent backers.
With a total funding of over $100 million to date, the startup is well-poised to expand its retail presence in India and target international markets like Europe, where it recently launched its first batch of motorcycles.
Future Prospects and Global Ambitions
Looking ahead, Ultraviolette aims to diversify its product lineup with plans for new models, including affordable scooters, to capture a broader demographic by 2028.
The company’s focus on research and development will likely bolster its competitive edge in the global EV two-wheeler market, especially in regions like Latin America and Southeast Asia.
As India emerges as a hub for EV innovation, Ultraviolette’s growth could inspire similar ventures, potentially reshaping the country’s automotive landscape.
This $45 million infusion, led by Zoho, not only fuels Ultraviolette’s ambitions but also reinforces the transformative potential of electric mobility on a global scale.
Andrew Lee
