Ultraviolette Automotive has announced raising $21 million in its latest funding round, with TDK Ventures — the corporate venture capital arm of TDK Corporation (TSE: 6762) — joining as a new strategic investor. The round also saw participation from existing backers including Zoho Corporation and Lingotto (formerly Exor Capital), along with other institutional and individual investors.
The Bengaluru-based EV manufacturer said the fresh capital will be used to expand its retail footprint in India from 20 cities to over 100 and accelerate international sales. The company’s flagship electric motorcycle, the F77, has already received European certification and is now sold in 10 European countries.
The partnership with TDK Ventures will focus on advancing electric mobility platforms and next-generation battery technologies, Ultraviolette said in a statement. Current institutional investors in the company include Qualcomm Ventures, Zoho Corporation, Speciale Invest, Lingotto (a subsidiary of Exor N.V.), and TVS Motor Company. Notable individual investors include Sriharsha Majety (Co-founder & CEO, Swiggy), Ankit Nagori (Co-founder, Cure Foods; former CBO, Flipkart), Aprameya Radhakrishna (Co-founder, TaxiForSure), and actor-entrepreneur Dulquer Salmaan.
Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette focuses on integrated vehicle and battery technology for high-performance electric motorcycles. The F77 was launched after years of R&D, and the company is now scaling manufacturing, distribution, and global market entry.
“Mobility is undergoing a radical transformation, and at Ultraviolette, we are leading that change through cutting-edge innovation,” said Narayan Subramaniam, CEO and Co-founder. “Our partnership with TDK Ventures fast-forwards our efforts, from advanced battery platforms to intelligent vehicle systems. This collaboration accelerates our vision of future-ready mobility while reinforcing our commitment to delivering aspirational, globally relevant EVs.”
Niraj Rajmohan, CTO and Co-founder, added: “Through this partnership with TDK Ventures, Ultraviolette will continue to innovate in deep-tech to shape the future of mobility. Together, we will push the boundaries in building a safer, smarter, and more efficient electric mobility ecosystem.”
TDK Ventures, which invests in energy, mobility, and sustainability startups, launched its Bengaluru Innovation Hub in 2023 to help Indian startups expand globally. Ravi Jain, Investment Director at TDK Ventures, said: “We look forward to bringing our TDK Goodness to Ultraviolette and their ambitious plan to design the next generation of energy-efficient, high-performance EV two-wheeler platforms. We are excited to support their global growth journey.”
With this funding boost and a growing network in both domestic and international markets, Ultraviolette aims to strengthen its position as a premium electric motorcycle brand from India, targeting performance-driven EV riders worldwide.
