Ultraviolette Automotive Raises $45 Million in Series E Funding from Zoho Corporation and Lingotto Investment

Bengaluru-headquartered electric two-wheeler manufacturer Ultraviolette Automotive on Thursday announced it has secured $45 million within its current Series E round. The new investment has come from technology firm Zoho Corporation and Lingotto, one amongst Europe's premier investment management companies. Ultraviolette said the sustained momentum in its Series E round demonstrates robust investor confidence in the firm's expansion trajectory and international aspirations. 

"We are glad to announce our Series E investment from Zoho and Lingotto," Narayan Subramaniam, Co-Founder and CEO, Ultraviolette, said in a statement. 

"Lingotto's legacy of backing iconic performance and mobility brands, combined with Zoho's long-term commitment to cutting-edge Indian innovation, aligns with our mission to build category-defining electric mobility solutions for India and global markets."

"With the ongoing Series E investments, we are doubling down on growth and expanding production to meet rising demand. Our focus remains on advancing breakthrough battery technology, enhancing performance and supporting upcoming product platforms. This investment accelerates our journey toward larger scale in India and international markets," said Niraj Rajmohan, CTO and Co-Founder, Ultraviolette.

The EV manufacturer has been developing a design and technology-driven portfolio featuring the F77 and its recently introduced X-47.

The company commenced sales of the F77 model in the UK this year, broadening its footprint to 12 nations.