Ultraviolette Secures $45 Million in Series E Funding from Zoho and Lingotto to Accelerate Global Expansion
In a major development for the Indian electric vehicle sector, performance EV manufacturer Ultraviolette Automotive has secured $45 million as part of its ongoing Series E investment round. The latest capital infusion comes from leading Indian technology giant Zoho Corporation and Lingotto, one of Europe’s largest investment management firms.
This fresh capital is set to accelerate the domestic and international scaling of Ultraviolette’s flagship electric motorcycles, the F77 and the recently launched X-47.
Key Highlights of the Investment
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Investors : Round led by Zoho Corporation (Sridhar Vembu, Mani Vembu, and Kumar Vembu) and Lingotto.
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Expansion Plans : Expanding presence to 100 cities in India by mid-2026.
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New Platforms : Funding will support future product platforms codenamed Shockwave and Tesseract.
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Global Reach : Strengthening presence in 12 European countries, including a recent launch in the UK.
Boosting Production for F77 and X-47
The investment comes at a crucial time as Ultraviolette witnesses high demand for its X-47 Crossover electric motorcycle. The funds will be utilized to ramp up production capacities to meet this growing demand while simultaneously advancing battery technology and performance capabilities.
Narayan Subramaniam, Co-Founder & CEO of Ultraviolette, stated, "We are glad to announce our Series E investment from Zoho and Lingotto. Lingotto’s legacy of backing iconic performance brands, combined with Zoho’s commitment to Indian innovation, aligns perfectly with our mission to build category-defining electric mobility solutions."
Strategic Expansion: From Bangalore to the World
Ultraviolette has demonstrated rapid growth, expanding to 30 cities across India in just 12 months. With the goal of hitting 100 cities by mid-2026, the company is aggressively targeting the premium electric two-wheeler market.
On the international front, the company has already established a foothold in Europe. The F77 motorcycle was recently launched in the United Kingdom, marking the company's entry into 12 countries across the continent.
Niraj Rajmohan, CTO & Co-Founder, commented on the technology roadmap: "We are doubling down on growth. Our focus is on advancing breakthrough battery technology and expanding production to support upcoming product platforms. This investment will accelerate our journey towards scaling into India and global markets."
About the Investors
The involvement of Zoho Corporation signals strong confidence from the Indian tech ecosystem in the EV transition. Meanwhile, Lingotto brings European automotive and performance heritage to the table, validating Ultraviolette's potential on the global stage.