Total amount raised
$69.2 Million
Latest funding date
12/01/2024
Location
Ultraviolette Automotive has successfully raised funding over 10 rounds, with the latest being a Series E round. The company is backed by notable investors, including Lingotto and Zoho.
Keep reading to explore the intricacies of Ultraviolette Automotive's fundraising journey and the investors supporting this innovative electric vehicle manufacturer.
What Is Ultraviolette Automotive?
Ultraviolette Automotive, based in Bangalore, Karnataka, India, is a prominent player in the electric vehicle industry. The company focuses on manufacturing high-performance electric two-wheelers, integrating advanced battery technology and smart tech solutions.
Founded with a vision to revolutionize the automotive sector, Ultraviolette Automotive operates in the automotive, clean energy, electric vehicle, and sustainability industries. The company employs between 251-500 people, reflecting its significant growth and commitment to innovation.
How Much Funding Has Ultraviolette Automotive Raised?
- Series E
- Amount Raised: USD 45,000,000
- Date: December 2025
- Lead Investors: Lingotto, Zoho
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and establish a pan-India presence.
- Series Unknown
- Amount Raised: USD 21,000,000
- Date: August 2025
- Lead Investors: TDK Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development and market reach.
- Series Unknown
- Amount Raised: INR 1,300,000,000
- Date: December 2024
- Lead Investors: Zoho
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product lineup and increase production capacity.
- Series D
- Amount Raised: USD 24,000,000
- Date: November 2022
- Lead Investors: EXOR N.V., Qualcomm Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate R&D and market expansion.
- Series D
- Amount Raised: USD 10,000,000
- Date: August 2022
- Lead Investors: EXOR N.V.
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and enhance technological capabilities.
- Series C
- Amount Raised: INR 1,125,000,000
- Date: December 2021
- Lead Investors: TVS Motor Company
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand manufacturing facilities and boost market presence.
- Series B
- Amount Raised: INR 300,000,000
- Date: September 2020
- Lead Investors: TVS Motor Company
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development and market reach.
- Series A
- Amount Raised: INR 60,000,000
- Date: August 2018
- Lead Investors: TVS Motor Company
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: December 2017
- Lead Investors: TVS Motor Company
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strategic partnership and secure initial funding.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: September 2017
- Lead Investors: Speciale Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and operations.
Total Amount Raised: USD 100,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Lingotto
- Details: Lingotto is a prominent investment firm known for its strategic investments in high-growth companies. They have a strong focus on supporting innovative ventures in various sectors.
- Investment Focus Areas: Technology, Clean Energy, Automotive
- Notable Investments: Not publicly disclosed
- Zoho
- Details: Zoho Corporation is a well-known SaaS company that provides a suite of online productivity tools and software applications. They are recognized for their commitment to innovation and customer-centric solutions.
- Investment Focus Areas: SaaS, Technology, Business Solutions
- Notable Investments: Not publicly disclosed
- TDK Ventures
- Details: TDK Ventures is the investment arm of TDK Corporation, focusing on early to late-stage investments in technology-driven companies. They aim to support startups that align with TDK's vision of advancing technology for a better future.
- Investment Focus Areas: Technology, Clean Energy, Electronics
- Notable Investments: Not publicly disclosed
- EXOR N.V.
- Details: EXOR N.V. is a leading investment company controlled by the Agnelli family. They have a diversified portfolio, including significant investments in automotive, media, and financial services.
- Investment Focus Areas: Automotive, Media, Financial Services
- Notable Investments: Ferrari, The Economist, PartnerRe
- Qualcomm Ventures
- Details: Qualcomm Ventures is the investment arm of Qualcomm Incorporated, focusing on early to late-stage investments in technology companies. They aim to support startups that drive innovation in mobile and connected technologies.
- Investment Focus Areas: Mobile, AI, IoT, Automotive, Enterprise Solutions
- Notable Investments: Zoom, Waze, Fitbit
What's Next for Ultraviolette Automotive?
Ultraviolette Automotive is poised for significant growth, with plans to expand internationally, particularly into European markets. The company aims to establish a pan-India presence by March 2025, targeting monthly sales of 1,000 units within the next six to eight months. This expansion is fueled by the growing interest in India's electric vehicle sector, where major players like Ola Electric and Ather Energy are also making strides.
To capitalize on these opportunities, Ultraviolette is looking to raise $120 million in its next funding round. This influx of capital will support their ambitious plans for product line expansion and market penetration. However, the company faces challenges such as intense competition from established EV manufacturers and the logistical complexities of international expansion.
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