Ultraviolette Raises ₹813.69 Crore: US Entry Planned, Intel CEO Lip-Bu Tan to Serve as Advisor

Ultraviolette has announced that it has raised $85 million (approximately ₹813.69 crore) as part of a new funding round, less than a year after raising $45 million. The main investors this time are deep-tech fund Yali Capital and TDK Ventures.

As part of the announcement, Ultraviolette has confirmed that it plans to enter the US market in 2027, following its expansion into 20 countries in Europe.

The Bengaluru-based startup will also bring Lip-Bu Tan on board as an adviser. Tan, who is CEO of global semiconductor giant Intel Corporation, also serves as chairman of VC firm Walden International and is an adviser to Yali Capital.

Ultraviolette has said it will use the funding to boost development of its next-gen electric vehicle platforms and accelerate international expansion plans. Along with the US, it is exploring Latin America and South-East Asia as future markets.

The company had announced a $45 million Series E round in December last year, led by Zoho Corp and Lingotto. Other major backers include Qualcomm Ventures and TVS Motors. It currently sells two electric motorcycle models, F77 and X-47. It has already previewed two upcoming products, the Tesseract maxi scooter which will go on sale in January 2027 following significant delays, and the Shockwave enduro bike. Additional models are planned, but no firm launch roadmap has been announced yet.

Ultraviolette also announced a major manufacturing expansion earlier this month, unveiling what it calls the new “BIGGA” (Big Global Ambition) factory which will come up in Hosur, Tamil Nadu. This will be key to supplying the domestic and international markets to support its future product launch and market expansion plans.

While details of Lip-Bu Tan’s exact role have not yet been disclosed, a statement released by the company quotes him as saying “What I really like about Ultraviolette is the combination of deep engineering expertise, strong IP, and the willingness to take on genuinely difficult problems. They have built the technology from first principles and are focused on creating something that is truly differentiated for the long term.”

Ganapathy Subramaniam, Founding Managing Partner, Yali Capital said, “India’s shift towards cleaner mobility will increasingly be driven by electric two-wheelers, given the scale of the segment. What attracted us to Ultraviolette is the depth of engineering the team has built in- house; from the battery, powertrain to software and radar and their focus on applying this technology to real rider needs, especially safety. Ultraviolette has taken the F77 from concept to the roads in India and Europe, and brought radar-based safety features into a production two-wheeler with the X-47. With the Tesseract, launching early next year, they will bring this engineering and safety focus to scooters and a much wider set of riders. This combination of deep technology, product focus and ambition gives us strong conviction in Ultraviolette, and we are proud to back them.”

Ultraviolette Founders Narayan Subramaniam and Niraj Rajmohan also added “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. This investment will enable us to scale manufacturing, accelerate the development of our future product platforms and deepen our presence across international markets. Our single minded focus is about being a global leader in future mobility; electric vehicles that bring together uncompromising performance, future centric design and advanced technology.”