EV-maker Ultraviolette secures $45M from Zoho and Ferrari-linked investor
04 Dec 2025

Bengaluru-based electric vehicle (EV) maker Ultraviolette Automotive has raised $45 million in its ongoing Series E funding round.

The investment comes from Zoho Corporation and Lingotto, a long-time investor in Ferrari.

The fresh capital will be used to ramp up production of its X-47 crossover motorcycle and expand distribution for new products like Shockwave and Tesseract.

Ultraviolette plans to expand production capacity
Expansion strategy

Ultraviolette's co-founder and CEO Narayan Subramaniam said that the demand for their products is scaling up rapidly.

He revealed that they have already increased capacity at their current plant by adding shifts and are planning to add another line.

A new facility is also expected to come online next year, as part of the company's expansion strategy.

Ultraviolette's future plans and market expansion
Growth prospects

Ultraviolette, which has TVS Motors, Qualcomm Ventures, TDK Ventures, and Speciale Invest as investors, is also in talks with state governments for a new facility.

The company is looking to expand its focus to the affordable EV segment.

CTO and co-founder Niraj Rajmohan said they are doubling down on growth with the ongoing Series E investments and expanding production to meet increasing demand.

Ultraviolette's international expansion and new product launches
Global reach

Ultraviolette plans to enter newer geographies with its products. The X-47 is currently available in India, with a European launch planned for February after completing certifications.

The company's new plant and products are expected to be operational by 2026.

Founded in 2016 by Subramaniam and Rajmohan, Ultraviolette first made waves with the high-performance F77 electric motorcycle before moving into mass-market segments with the production of its X-40 series at its Electronic City plant.

Ultraviolette's market presence and future plans
Market expansion

Ultraviolette is currently present in 30 Indian cities with a plan to expand to 100 by mid-2026.

The company's F77 motorcycles were recently launched in the UK, taking its footprint to 12 European markets.

Speaking about an IPO, Subramaniam said they would start the process in an 18-24 month window as an outcome of their growth strategy.