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- Ultraviolette Automotive
Ultraviolette Automotive Revenue, Valuation, Funding & Investors
Ultraviolette Automotive is valued at $300M as of November 2022. Ultraviolette Automotive revenue was $3M, as disclosed with its August 2022 round.
About Ultraviolette Automotive
Ultraviolette Automotive is a Bangalore-headquartered electric vehicle manufacturer founded in 2016. The company produces high-performance electric motorcycles including the F77 with 30 kW power and 200 km range, alongside the Tesseract scooter and UV Supernova fast-charging network. Its Violette AI system provides remote diagnostics and theft prevention, with exports to Europe and sales through 50 dealerships in India.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$3M (Aug 2022)
Valuation
$300M (Nov 2022)
Ultraviolette Automotive Valuation
Ultraviolette Automotive is currently valued at $300M, based on its Series D in November 2022.
The $24M round was led by EXOR and Qualcomm Ventures.
Ultraviolette Automotive's valuation has grown 2.7x from $109M at its Series B in September 2020 to $300M in November 2022, across 3 priced rounds.
Ultraviolette Automotive valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2022 | Series D | $300M | - |
| Aug 2022 | Series D | $300M | 100.0x |
| Sep 2020 | Series B | $109M | - |
Ultraviolette Automotive Revenue
Ultraviolette Automotive's latest recorded revenue is $3M, as of its Series D in August 2022. At a $300M valuation, that implies a 100.0x revenue multiple.
Ultraviolette Automotive revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2022 | $3M | $300M | 100.0x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Ultraviolette Automotive Funding History
Ultraviolette Automotive has raised a total of $220M across 9 funding rounds.
Ultraviolette Automotive's first fundraising round was a $900K Series A in August 2018. The most recent completed round was a $85M Series E in September 2026.
Ultraviolette Automotive funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Series E | TDK Ventures (lead); Yali Capital (lead); Lip-Bu Tan | $85M | - | Ultraviolette Automotive raised $85 million in a Series E financing led by Yali Capital and TDK Ventures, with participation from Lip-Bu Tan, who also joined as an adviser. The round was announced in September 2026 and was described as a fresh equity financing for the Bengaluru-based electric two-wheeler maker, not a sale or a merger, with the capital intended to support production scale-up, new product launches, and international expansion. The financing was positioned around accelerating manufacturing and global growth, including expansion into overseas markets such as the US and other international regions. The deal brought together deep-tech and strategic investors alongside the company’s existing backers, and Lip-Bu Tan’s personal investment added a prominent technology-industry endorsement to the round. Ultraviolette Automotive is an Indian electric motorcycle and two-wheeler manufacturer based in Bengaluru, known for its performance EV platform and product lineup in the premium electric mobility segment. The company has been building out production capacity and preparing broader launches as it targets higher-volume manufacturing and wider international distribution. |
| Dec 2025 | Series E | Lingotto (lead); Zoho (lead) | $45M | - | Ultraviolette Automotive, a Bengaluru-based electric motorcycle maker founded in 2016, secured $45 million (about Rs 404 crore) from Zoho Corporation—led by Sridhar Vembu, Mani Vembu, and Kumar Vembu—and Italy's Lingotto, a subsidiary of Exor NV (controlled by the Agnelli family with stakes in Ferrari and Fiat), as part of its ongoing Series E round. This follows a $21 million tranche from TDK Ventures in August 2025. The company did not disclose the full round size or valuation. Funds will scale production and sales of flagship F77 electric sportbike and new X-47 crossover, develop upcoming Shockwave and Tesseract platforms, expand to 100 Indian cities by mid-2026 (from 30 currently), and grow internationally, including recent F77 launch in the UK across 12 European countries. Ultraviolette competes with Ola Electric, Ather Energy, TVS Motor, Bajaj Auto, Hero MotoCorp, and Oben Electric in India's electric two-wheeler market. It has sold around 1,168 vehicles in 2025 per government Vahan data and plans an IPO by FY 2027-28. Investors also include TVS Motor, Qualcomm Ventures, and Speciale Invest. Financially, Ultraviolette reported Rs 36.1 crore in revenue for the fiscal year ended March 2025 (FY25), with net loss widening to Rs 116.3 crore from Rs 61.6 crore in FY24, mirroring challenges in the EV two-wheeler sector. |
| Aug 2025 | Undisclosed stage | TDK Ventures (lead); Lingotto; Zoho | $21M | - | Ultraviolette Automotive is a Bengaluru-based electric motorcycle manufacturer founded in 2016 by Narayan Subramaniam and Niraj Rajmohan. The company specializes in high-performance electric two-wheelers, with flagship products including the F77 electric sports bike and the X47 crossover, plus upcoming platforms codenamed Shockwave (scooter) and Tesseract (dirt bike). The company also operates the UV Supernova fast-charging network. Ultraviolette's Series E funding round extended across multiple tranches in 2025. In August 2025, TDK Ventures (the corporate venture arm of Japanese electronics giant TDK Corporation) led a $21 million all-equity investment. This was followed by a $45 million tranche announced in November 2025 from Zoho Corporation and Lingotto (a subsidiary of EXOR N.V.). A third tranche of INR 4,050,000,000 (approximately $48.6 million) was announced in December 2025, led by Zoho with participation from F.M. Ferrari Investments, Speciale Invest, TDK Ventures, Qualcomm Ventures, and TVS Motor. Collectively, these tranches represent significant capital infusion in the ongoing Series E round, bringing total lifetime funding to over $149 million. As of August 2025, Ultraviolette had sold more than 3,000 motorcycles in India and projected revenue of over $50 million by the end of that financial year. The company expanded from zero to 30 Indian cities in 12 months and plans to reach 100 cities by mid-2026. Internationally, the company entered 10 European countries and plans to expand its European dealership footprint fourfold, while launching pilot programs in Latin America and Southeast Asia. The company aims to increase its product portfolio to 14 models by early 2027. The capital will support scaling production of existing motorcycles (F77 and X47), advancing upcoming product platforms, and accelerating both domestic and international expansion. Key investors include Qualcomm Ventures, TVS Motor, Lingotto, and newly Zoho Corporation and TDK Ventures. An analyst estimate from InsightEV placed post-money valuation near $450 million following the November 2025 funding, though this was not officially disclosed by the company. The company's official post-money valuation for any of the 2025 tranches has not been publicly disclosed in press releases or credible financial reporting. |
| Dec 2024 | Undisclosed stage | Zoho (lead); Ojas Consultation; EXOR; Mudhal Partners | $15M | - | Ultraviolette Automotive is a Bengaluru-based electric motorcycle manufacturer founded in 2016 that designs technology-led performance bikes combining advanced battery systems and high-performance engineering. The company's flagship model is the F77 electric sports bike, with a recently launched X-47 crossover motorcycle, and upcoming platforms codenamed Shockwave (EV scooter) and Tesseract (EV dirt bike). In its Series E funding round, Ultraviolette raised capital from Zoho Corporation (led by founder Sridhar Vembu alongside Mani and Kumar Vembu), Europe-based Lingotto (part of Exor NV, Ferrari's owner), TDK Ventures, TVS Motor, and other investors including Mudhal Partners and Ojas Consultation. The company reported INR 36.1 crore in revenue for the fiscal year ended March 2025, though it posted a net loss of INR 116.3 crore in FY25, widening from INR 61.6 crore in FY24. As of 2025, Ultraviolette had sold approximately 1,168 vehicles and expanded its Indian retail footprint to 30 cities with plans to reach 100 by mid-2026, while also establishing a European presence across 12 countries including the UK, Spain, France, Germany, and Portugal. |
| Nov 2022 | Series D | EXOR (lead); Qualcomm Ventures (lead) | $24M | $300M | Ultraviolette Automotive is an India-based electric two-wheeler manufacturer focused on designing and manufacturing high-performance electric motorcycles and scooters. The company has developed products including the F77 and X-47 models, positioning itself as a technology and design-led enterprise in the EV sector. In November 2022, Ultraviolette closed a Series D-II funding round raising $24 million led by EXOR N.V. and Qualcomm Ventures. The capital was intended to accelerate R&D and market expansion efforts. As of March 2026, Ultraviolette has raised a total of approximately $132 million across multiple funding rounds and has expanded its presence to 12 countries across Europe, with plans for continued domestic and international scaling through future product platforms including Shockwave and Tesseract. |
| Aug 2022 | Series D | EXOR (lead) | $10M | $300M | Ultraviolette Automotive is an electric two-wheeler manufacturer based in Bengaluru, India, known for high-performance models like the F77. On August 24, 2022, it raised INR 790 million (approximately USD 10 million) in its Series D round from EXOR N.V. and others by issuing 2,912 Series D shares at INR 270,487 per share, resulting in EXOR Co-Invest holding a 3.48% stake. The post-money valuation for this round was USD 300 million. This funding supported scaling production and enhancing technological capabilities. The round saw participation from Qualcomm Ventures, with the Series D valuing the company at $300 million overall. |
| Dec 2021 | Series C | TVS Motor (lead); Zoho | $15M | - | Ultraviolette Automotive is a Bengaluru-based electric two-wheeler startup founded in 2015 that designs, develops, and manufactures electric motorcycles and accessories, including its flagship F77 model. In December 2021, it raised $14.85 million (Rs 112.5 crore) in a Series C round led by TVS Motor Company, which infused $9.9 million (Rs 75 crore), with Zoho Corporation investing $5 million (Rs 37.5 crore) for a 2.46% stake. TVS Motor held a 29.48% stake in Ultraviolette as of FY2021. The startup had not reported any revenues from operations up until September 2021 and incurred a loss of Rs 76.36 lakh in that period, following a loss of Rs 1.61 crore in FY2020-21. |
| Sep 2020 | Series B | TVS Motor (lead) | $4M | $109M | Ultraviolette Automotive is a Bengaluru-based electric two-wheeler manufacturer founded in 2015. The company designs and manufactures high-performance electric motorcycles, with its flagship product being the F77, designed to outperform 200-250cc gasoline motorcycles. In September 2020, TVS Motor Company invested Rs 30 crore in Ultraviolette as part of its Series B funding round, raising TVS's stake to approximately 29.48%. The company had not reported any revenues from operations as of September 2021, reflecting its early-stage status. As of FY 2020-21, Ultraviolette had reduced its operating losses to Rs 1.61 crore, an improvement from Rs 3.49 crore in the prior year, indicating progress toward profitability. The startup has since grown significantly, raising over $79 million across multiple funding rounds through 2025 with backing from strategic investors including TVS Motors, Zoho Corporation, Qualcomm Ventures, and others. |
| Aug 2018 | Series A | TVS Motor (lead) | $900K | - | - |
Who has invested in Ultraviolette Automotive?
10 investors have backed Ultraviolette Automotive across its funding rounds, including Zoho, EXOR, TVS Motor, TDK Ventures, Lingotto and Qualcomm Ventures.
Lead investors include TDK Ventures, Yali Capital, Lingotto, Zoho, EXOR and 2 other investors.
Ultraviolette Automotive Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Dec 2021 | ||
| 3 | Lead | Aug 2018 | ||
| 3 | Lead | Aug 2022 | ||
| 2 | Lead | Aug 2025 | ||
| 2 | Lead | Aug 2025 | ||
| 1 | Lead | Sep 2026 | ||
| 1 | Lead | Nov 2022 | ||
| 1 | Participant | Sep 2026 | ||
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Start Free TrialUltraviolette Automotive Competitors
Ultraviolette Automotive competitors include listed companies like Einride, Ehang and ChargePoint, and private ones like Tralution, Infimotion and Universal Hydrogen.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $47M | ($93M) | $297M | - | ||
| Publicly listed | $63M | ($45M) | $285M | 3.4x | ||
| Private | - | - | $274M | - | ||
| Private | - | - | $333M | - | ||
| Private | - | - | $269M | - | ||
| Publicly listed | $411M | ($170M) | $265M | 0.9x |
Ultraviolette Automotive Public Comps
Ultraviolette Automotive is still privately-owned, but its public comps include Einride, Ehang, ChargePoint, EVgo, Lotus Technology, Alfen, RattanIndia Enterprises, Microvast, Exicom Tele-Systems and Solid Power.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $47M | ($93M) | 6.7x | - | (3.4x) | - | |||
| $63M | ($45M) | 3.6x | 3.4x | (5.0x) | (6.2x) | |||
| $411M | ($170M) | 1.0x | 0.9x | (2.4x) | (8.4x) | |||
| $384M | ($18M) | 2.1x | 2.0x | (45.2x) | (53.9x) | |||
| $519M | ($360M) | 3.8x | 3.3x | (5.5x) | (6.9x) | |||
| $487M | $24M | 0.5x | 0.5x | 10.3x | 9.4x | |||
| $780M | ($10M) | 0.6x | - | (46.7x) | - | |||
| $428M | $3M | 0.7x | 0.8x | 112.3x | 9.6x | |||
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Common questions about Ultraviolette Automotive
| When was Ultraviolette Automotive founded? | Ultraviolette Automotive was founded in 2016. |
| Where is Ultraviolette Automotive headquartered? | Ultraviolette Automotive is headquartered in Bangalore, India. |
| Is Ultraviolette Automotive publicly listed? | No, Ultraviolette Automotive is a private, VC-backed company. |
| What is Ultraviolette Automotive's valuation? | Ultraviolette Automotive was last valued at $300M in its Series D in November 2022. |
| How much funding has Ultraviolette Automotive raised? | Ultraviolette Automotive has raised $220M across 9 funding rounds. |
| What was Ultraviolette Automotive's last funding round? | Ultraviolette Automotive's last funding round was a $85M Series E in September 2026, led by TDK Ventures and Yali Capital. |
| Who are Ultraviolette Automotive's investors? | Ultraviolette Automotive's investors include Zoho, TVS Motor, EXOR, Lingotto, TDK Ventures, Yali Capital, Qualcomm Ventures, Lip-Bu Tan, Ojas Consultation and Mudhal Partners. |
| What is Ultraviolette Automotive's revenue? | Ultraviolette Automotive's latest recorded revenue is $3M (August 2022). |
| What is Ultraviolette Automotive's revenue multiple? | Ultraviolette Automotive's latest valuation implies a 100.0x revenue multiple ($300M valuation on $3M of revenue). |
| Which companies are comparable to Ultraviolette Automotive? | Companies comparable to Ultraviolette Automotive include Einride, Ehang, Tralution, Infimotion, Universal Hydrogen and ChargePoint. |
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