Indian electric vehicle (EV) startup Ultraviolette Automotive has secured a new strategic investment from TDK Ventures, the corporate venture capital arm of Japanese electronics giant TDK Corporation. The funding is part of a larger $21 million round, which also included continued backing from Zoho Corporation and Lingotto.
This fresh capital will accelerate Ultraviolette’s manufacturing scale-up, retail expansion, and global market entry, while also strengthening its work on advanced battery technologies.
Key Takeaways
- TDK Ventures, the investment arm of Japan’s TDK Corporation, has invested in Ultraviolette.
- The funding is part of a $21 million round alongside existing investors like Zoho Corporation and Lingotto.
- The funds will help Ultraviolette expand from 20 to over 100 Indian cities and advance battery technologies.
- Ultraviolette F77 is the first Indian electric two-wheeler certified in Europe, already sold in 10 countries.
- The partnership gives Ultraviolette both capital and TDK’s battery expertise to develop next-gen EV platforms.
Strengthening Battery Tech and EV Innovation
Ultraviolette’s CEO and Co-founder Narayan Subramaniam said the collaboration with TDK will accelerate the company’s work on advanced battery platforms and intelligent vehicle systems. CTO and Co-founder Niraj Rajmohan added that the partnership is key to building a safer and more efficient electric mobility ecosystem.
With access to TDK’s expertise in electronic components and energy storage, Ultraviolette expects to sharpen its technological edge in performance EVs.
Expanding Global Footprint
Founded in 2016, Ultraviolette has made headlines with the F77, its flagship high-performance electric motorcycle. The F77 is the first Indian EV two-wheeler to receive European certification, and is already available in 10 international markets.
With the new funding, the company plans to increase its retail presence across India from 20 cities to over 100, while continuing to strengthen its international sales network.
Backed by Strong Investors
Ultraviolette has built a robust base of institutional and individual investors. Its backers include Qualcomm Ventures, Zoho Corporation, TVS Motor Company, Lingotto (a subsidiary of Exor N.V., investor in Ferrari and Stellantis), along with notable individuals such as Sriharsha Majety (CEO of Swiggy) and actor Dulquer Salmaan.
For TDK Ventures, this investment aligns with its focus on energy and mobility startups. The firm opened an innovation hub in Bengaluru in late 2023, with the goal of supporting Indian entrepreneurs in scaling technologies globally. Ravi Jain, Investment Director at TDK Ventures, highlighted the excitement of backing Ultraviolette’s vision for next-gen, energy-efficient electric two-wheelers.
Frequently Asked Questions (FAQs)
Q1: What is Ultraviolette Automotive?
A: Ultraviolette is an Indian company that designs and builds electric vehicles and battery technology. Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan , it focuses on creating high-performance electric vehicles, with its main product being the F77 motorcycle.
Q2: Who are the main investors in Ultraviolette?
A: The company is supported by several major global investors. Key backers include
- TDK Ventures ,
- Zoho Corporation ,
- Lingotto (a subsidiary of Exor N.V.) ,
- Qualcomm Ventures ,
- TVS Motor Company , and
- Speciale Invest.
Q3: What is the Ultraviolette F77?
A: The F77 is Ultraviolette’s flagship electric motorcycle. It is known for its advanced performance, safety, and technology. Notably, it is the first electric two-wheeler from India to receive European certification and is sold in 10 countries across Europe.
Q4: How will Ultraviolette use its new funding?
A: The company plans to use the new capital to scale its manufacturing, speed up research on battery platforms, expand its distribution network from 20 to over 100 cities in India , and introduce its products to more global markets.
