Ultraviolette Automotive, an Indian electric two-wheeler manufacturer, has secured $21 million in a recent funding round with strategic participation from TDK Ventures, the corporate venture capital arm of Japan-based TDK Corporation (TSE: 6762). The investment underscores growing international interest in India’s electric mobility sector.
The round also saw continued support from existing investors, including Zoho Corporation, Lingotto (formerly Exor Capital), and other institutional investors. TDK Ventures joins a list of prominent backers that includes Qualcomm Ventures LLC, Speciale Invest, TVS Motor Company Limited, and individual investors such as Sriharsha Majety (Co-founder & CEO, Swiggy), Ankit Nagori (Co-founder, Cure Foods; former Chief Business Officer, Flipkart), Aprameya Radhakrishna (Co-founder, TaxiForSure), and actor Dulquer Salmaan.
Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette focuses on developing high-performance electric vehicles (EVs) that integrate advanced engineering with futuristic design. The company launched its flagship model, the F77 electric motorcycle, after several years of research and development. The F77 has achieved European certification and is currently being sold in 10 European countries, marking it as the first Indian electric two-wheeler to enter the European market under type approval regulations.
With the new funding, Ultraviolette plans to expand its manufacturing capabilities, accelerate innovation in battery and vehicle technologies, and scale its retail presence across India—from 20 cities currently to over 100 in the coming years. The company also aims to strengthen its global market outreach.
Narayan Subramaniam, CEO and Co-founder of Ultraviolette, stated that the partnership with TDK Ventures supports the company’s mission to develop next-generation electric mobility platforms. “This collaboration enhances our efforts in advancing battery systems and intelligent vehicle technologies, helping us deliver globally relevant electric vehicles,” he said.
Niraj Rajmohan, CTO and Co-founder, emphasized the company’s focus on deep-tech innovation. “Our work with TDK Ventures will enable us to further push the boundaries in creating safer, smarter, and more efficient electric mobility solutions,” he added.
TDK Ventures specializes in investing in deep-tech startups addressing challenges in energy, mobility, and sustainability. The firm established a Bengaluru-based Innovation Hub in late 2023 to support Indian entrepreneurs in scaling their technologies globally.
Ravi Jain, Investment Director at TDK Ventures, said the partnership aligns with the firm’s goal of advancing sustainable transportation. “We are pleased to support Ultraviolette’s vision of building energy-efficient, high-performance electric two-wheeler platforms. By leveraging TDK’s technological expertise, we aim to contribute to Ultraviolette’s global expansion.”
Ultraviolette’s investor portfolio includes Lingotto, a subsidiary of Exor N.V., which holds stakes in major global brands such as Ferrari, Stellantis, CNH Industrial, The Economist Group, and Juventus. The company continues to position itself at the intersection of Indian engineering and international standards in electric mobility.
Ultraviolette Automotive is a Bengaluru-based electric vehicle company focused on developing advanced electric two-wheeler platforms and battery technology. Since its inception in 2016, the company has emphasized performance, safety, and innovation in its product development.