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India Investment

Indian Electric Two-wheeler Firm nets $15.3m Funding

Ultraviolette Automotive, a Bengaluru-based electric two-wheeler manufacturer, has secured 130 crore rupees (around US$15.3 million) in a new funding round.

This investment was primarily driven by Zoho, which provided 90 crore rupees (around US$10.6 million).

The round also saw participation from Lingotto, Mudhal Partners, and Ojas Consultation, according to regulatory filings.

Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette focuses on producing innovative electric bikes.

To date, the company has raised approximately US$75 million, with prior investments from Qualcomm and TVS Motor.