EV Startup Ultraviolette Automotive Raises Rs 30 Cr In Series B Funding Round
Ultraviolette Automotive, an electric vehicle startup, has raised Rs 30 crore from TVS Motor Company, as a part of its ongoing Series B funding.
The funding round was announced soon after Ultraviolette Automotive unveiled its high-performance motorcycle — F77.
Founded by Narayan Subramaniam and Niraj Rajmohan in 2017, the automotive startup had started by building EVs for the European markets. The startup soon pivoted and started to focus on the Indian market.
Unveiled the pre-production version of the F77 motorcycle in November 2019, Ultraviolette Automotive is now preparing to launch the motorcycle in the market and also plans on utilising the funding amount to further accelerate the production of EVs in India.
Narayan Subramaniam, Founder and CEO of Ultraviolette Automotive Pvt Ltd, said,
“We have seen significant advancements in the transportation and mobility industry globally, with an increased demand for personal mobility in recent times. We also see rapid growth in the Indian two-wheeler industry with a special focus on electric vehicles, and it is in this context that we set out to create the F77 – India’s first high-performance motorcycle.”
Need legal assistance for your startup? Just contact us.