“Ultraviolette Raises $45M from Zoho & Italy’s Lingotto to Expand F77, X-47 EV Bikes, Launch Shockwave & Tesseract, Target 100 Cities by 2026”
Indian electric motorcycle maker Ultraviolette has secured $45 million in fresh funding from Zoho Corporation and Italy-based investment firm Lingotto, a part of Exor NV — the parent company of Ferrari — as part of its ongoing investment round.
The new capital will be directed towards scaling production and operations of its two existing models — the F77 electric sports bike and the recently launched X-47 crossover motorcycle. Ultraviolette also plans to deploy funds for upcoming platforms codenamed Shockwave and Tesseract, designed to strengthen its product portfolio in both domestic and international markets.
The company did not disclose the total size of the ongoing round or its current valuation. Earlier in August, Ultraviolette raised $21 million from TDK Ventures as part of the same funding cycle.
The funding comes amid Ultraviolette’s rapid domestic and global expansion. The Bengaluru-based startup currently has a retail presence in 30 Indian cities, with plans to scale to 100 cities by mid-2026. Internationally, the F77 model was launched in the UK this year, extending Ultraviolette’s reach to 12 countries.
Narayan Subramaniam, Founder and CEO of Ultraviolette, said:
“In cars, SUVs with high ground clearance are preferred. The same is happening in motorcycles — consumers want one bike that can handle all types of roads. This attracts riders from street, roadster, and off-road segments. With this round, we are focused on scaling production and operations.”
Founded in 2016, Ultraviolette counts TVS Motor, Qualcomm Ventures, TDK Ventures, and Speciale Invest among its early investors. Zoho’s participation underscores its growing interest in Indian deep-tech ventures, while Lingotto continues to expand its investments in high-performance mobility and the EV sector.
More EV News
Niraj Rajmohan, CTO at Ultraviolette, added:
“When we entered the market, most players focused on utility scooters with existing tech. We realized differentiation required building core technology, which has guided our strategy since inception.”
According to government Vahan data, Ultraviolette has sold around 1,168 units in 2025 so far. While legacy EV two-wheeler makers TVS Motor, Bajaj Auto, Ather, Hero MotoCorp, and Ola Electric continue to lead in market share, Ultraviolette is steadily gaining visibility in the performance EV segment.
Financially, Tracxn reports Rs 36.1 crore revenue for FY25, with a net loss widening to Rs 116.3 crore, up from Rs 61.6 crore in FY24, reflecting heavy investment in technology and expansion typical for emerging EV startups.
With the new funding and global expansion plans, Ultraviolette is poised to strengthen its position in India’s high-performance EV motorcycle market, while simultaneously targeting international markets.
Author’s Comment:
With this $45 million funding boost from Zoho and Lingotto, Ultraviolette is set to accelerate its growth in India’s high-performance EV bike segment while making deeper inroads into international markets.
The startup’s focus on advanced technology, diversified models, and strategic expansion signals a promising trajectory for performance-oriented electric motorcycles, positioning it as a strong challenger to established EV two-wheeler makers.
