EV company Ultraviolette raises $85M in Series E led by deeptech fund Yali Capital
Ultraviolette is targeting entry into the United States in 2027, along with a broader expansion across key markets in Latin America and South-East Asia, said the company in a press statement.
Electric two-wheeler manufacturer Ultraviolette has raised a funding of $85 million led by deeptech fund Yali Capital and TDK Ventures. LipBu Tan, Chairman of Walden International & Advisor to Ultraviolette, alongside Ultraviolette’s current and long-term investors, also invested in this round.
The company plans to scale its manufacturing capabilities, advance the development of its next generation of electric vehicle platforms and accelerate its international expansion.
Ultraviolette is targeting entry into the United States in 2027, along with a broader expansion across key markets in Latin America and South-East Asia, said the company in a press statement.
Ultraviolette, which specialises in EV platforms and battery technology, said it will deploy the capital towards scaling production for its current products F77 and X-47 and upcoming products, Tesseract and Shockwave.
This investment will also support the development of Ultraviolette’s next generation of global EV platforms. These platforms will build upon the company’s vertically integrated capabilities across battery technology, power electronics, vehicle architecture and intelligent software.
Lip-Bu Tan, Chairman of Walden International commented, “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.”
Mr Lip-Bu Tan
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 inhouse; from the battery, powertrain to software and radar and their focus on applying this technology to real rider needs, especially safety.”
Ravi Jain, Investment Director, TDK Ventures commented, "The adoption of electric two wheelers can be accelerated by superior products powered by differentiated technology. We continue to believe that Ultraviolette is best positioned to catalyze this transition and build winning products for global markets."