Ultraviolette Raises $45 Million as it Expands EV Lineup and Global Reach
- Ultraviolette secures $45 Million in ongoing Series E round
- Funds to scale production of F77, X47 and develop new platforms
- EV maker expands to 30+ Indian cities and 12 global markets
Ultraviolette, the electric mobility startup backed by Zoho, has raised $45 million in its ongoing Series E funding round. The investment comes from Zoho Corporation and Italy-based firm Lingotto. The company did not disclose the total size or valuation of the round.
This fresh capital follows the $21 million Ultraviolette received from TDK Ventures in August as part of the same fundraise. The company plans to use the new funds to ramp up production of its F77 electric sports motorcycle and the newly launched X47 crossover. It will also accelerate development of its next platforms, currently codenamed Shockwave and Tesseract.
As competition heats up in India’s electric two-wheeler segment, Ultraviolette is strengthening both domestic and international expansion. The company now operates in over 30 Indian cities and aims to reach 100 cities by mid-2026. Globally, Ultraviolette recently launched the F77 in the UK, bringing its presence to 12 countries across Europe and beyond.
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According to data from a report, the startup has raised $145 million so far, with major backing from TVS Motor Company and Mudhal Partners. Vahan data shows Ultraviolette sold around 1,168 vehicles in 2025.
Financially, Ultraviolette’s revenue increased to Rs 32.3 crore in FY25, up from Rs 15 crore in FY24. However, net losses also widened by 88% to Rs 116 crore in FY25. Despite this, the company remains focused on scaling operations and competing with players like Tork Motors, Revolt Motors and Ola Electric’s Roadster.
