Ultraviolette Automotive, a Bengaluru-based maker of electric motorcycles, announced an $85m funding round on 23 September 2026, led by Yali Capital and TDK Ventures. Several outlets, including EVreporter and TechStory, described the round as a Series E.
Lip-Bu Tan, chairman of Walden International, invested personally and joined the company as an adviser. Ultraviolette's existing investors also took part. The company did not disclose a valuation.
Ultraviolette said it would use the money to scale production of its current and upcoming vehicles, build next-generation EV platforms and expand in international markets.
“This funding round represents an important step in Ultraviolette’s evolution into a global electric mobility company. The conviction demonstrated by Yali Capital, TDK Ventures, Lip-Bu Tan and our long-term investors reinforces our vision of building a design and tech focused global brand out of India.”Narayan Subramaniam and Niraj Rajmohan, Founders, Ultraviolette
What Ultraviolette makes
The company sells the F77 electric motorcycle and the X-47 Crossover, which has radar-based safety features, in India and 20 European countries, including Germany, France, Spain, the UK, Italy and the Netherlands. Its next products are the Tesseract electric scooter and the Shockwave enduro motorcycle. Yali Capital said the Tesseract would launch early next year.
Ultraviolette develops its battery systems, power electronics, vehicle architecture and software in-house, with battery architectures ranging from 48V to 400V. According to TechStory, co-founder and chief technology officer Niraj Rajmohan said the company's vehicle control unit uses a similar architecture across all four models, and the company has applied for more than 50 battery technology patents.
The company was founded in 2016 by Narayan Subramaniam and Niraj Rajmohan.
TechStory also reported that some Ultraviolette vehicles had passed 100,000 km while keeping more than 96% of their original rated battery capacity, and that the company offers a battery warranty of eight lakh kilometres (800,000 km).
What the money is for
The round follows Ultraviolette's announcement of a new manufacturing facility with annual capacity of up to 500,000 units. TechStory reported that the company can currently produce around 50,000 to 60,000 vehicles a year across its existing sites, and that the first phase of the new facility in Tamil Nadu is expected to raise capacity to 250,000 vehicles a year.
Ultraviolette is targeting entry into the US in 2027 and plans to expand into Latin America and Southeast Asia. TechStory reported that it has around 50 locations in India and plans to reach 100 by the end of the year. Chief executive Narayan Subramaniam described the new funding as primarily growth capital, according to the same report.
Who invested and the funding so far
Yali Capital and TDK Ventures led the round. Ultraviolette's investor base also includes Lingotto, Qualcomm Ventures, Zoho Corporation, TVS Motor and Speciale Invest.
According to Ascendants, the $85m follows an earlier $66m raised as part of the same Series E, made up of $21m from TDK Ventures and $45m from Zoho Corporation and Lingotto. That brings Ultraviolette's disclosed fundraising since August 2025 to $151m, the outlet reported. Total funding since the company's founding was not disclosed.
Ravi Jain, investment director at TDK Ventures, said electric two-wheeler adoption could be accelerated by better products built on differentiated technology, and that the firm saw Ultraviolette as well placed to build products for global markets. Ganapathy Subramaniam, founding managing partner of Yali Capital, pointed to the depth of engineering the team had built in-house.
Company website: ultraviolette.com