Ultraviolette Secures $21 Million to Supercharge Global Electric Motorcycle Expansion
Ultraviolette, the premium electric motorcycle manufacturer, received a $21 million boost led by TDK Ventures, with further support from key investors. This partnership aims to elevate their global presence, enhance research, and expand manufacturing. Ultraviolette plans to scale its retail reach from 20 to over 100 cities.
- Country:
- India
In a significant financial move, premium electric motorcycle maker Ultraviolette announced on Tuesday that it has raised $21 million in a funding round. This round was notably led by TDK Ventures, a deep tech investment arm of the renowned Japanese firm TDK.
The substantial funding included strategic contributions from existing stakeholders such as Zoho Corporation and Lingotto, formerly known as Exor Capital. The innovative company, recognized for its high-performance electric vehicles, also counts notable figures such as Swiggy co-founder Sriharsha Majety and actor Dulquer Salmaan among its investors.
The fresh capital injection aims to accelerate Ultraviolette's mission to scale its global manufacturing and research capabilities. With plans to expand its retail footprint from 20 to over 100 cities, the company is poised to establish a commanding presence in the global electric vehicle market.
(With inputs from agencies.)
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