EV startup Ultraviolette looking to raise $120M; What's up Wellness, Perfora bag deals

YourStory presents daily funding roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, February 28, 2023.

EV startup Ultraviolette looking to raise $120M; What's up Wellness, Perfora bag deals

Tuesday February 28, 2023,

2 min Read

EV motorcycle startup Ultraviolette looking to raise $120M in next funding round

Electric motorcycle startup Ultraviolette Automotive Pvt Ltd is planning to raise $120 million in its next round of investment, which it will use to expand globally and grow its vehicle platform, it said on Tuesday.

The company has raised $55 million in funding since inception from a clutch of investors, including TVS Motor Company, EXOR Capital, Qualcomm Ventures, Zoho, Gofrugal Tech, and Speciale Invest.

"The infusion of funds from partners who share our vision will enable Ultraviolette to scale new vehicle programmes, expand our domestic footprint, and accelerate international product rollout," said Niraj Rajmohan, Co-founder and CTO of Ultraviolette.

Founded in 2015 by Rajmohan and CEO Narayan Subramaniam, Ultraviolette has three variants of its F77 e-motorcycles: Airstrike, Shadow, and Laser. The top speed of the bikes is 152 kmph, and they are priced between Rs 3.80 lakh and Rs 5.50 lakh (ex-showroom).

What's Up Wellness raises Rs 60 lakh

Gurugram-based nutraceutical company What's Up Wellness raised Rs 60 lakh from BoAt's Aman Gupta, Sugar Cosmetics' Vineeta Singh, and Shaadi.com's Anupam Mittal.

The startup sells nutritional gummies for hair, skin and nail care, sleep and muscle relaxation, and to relieve stress and anxiety.

What's Up Wellness has raised funding from Clovia, Sirona Hygiene, and Puneet Sehgal, ex-COO of Hopscotch, in the past.


Image: Shutterstock

BlackBuck’s bet on digital services to drive revenue growth

Perfora raises $2.5M from RPSG Capital Ventures

Oral-care brand Perfora raised $2.5 million from consumer VC fund RPSG Capital Ventures.

The startup's existing investors, Sauce.VC, Lotus Herbals Family Office, and Huddle, among others, also participated in the round.

Perfora Co-founder Jatan Bawa said the startup will use the funds from the round to scale the startup's digital presence both on its website and marketplaces.

"Their vision, product offerings, and growth plan are in line with the future of D2C brands that we endeavour to build," said Abhishek Goenka, Head and Chief Investing Officer at RPSG Capital Ventures.

Founded in 2021 by Bawa and Tushar Khurana, Perfora offers oral care products such as electric toothbrushes, SLS-free toothpaste, teeth whitening pens, dental flosses, etc.

Edited by Suman Singh