Ultraviolette raised $45 million from Zoho and Lingotto in ongoing Series-E round
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Ultraviolette, today announced that it has secured $45 million as part of its ongoing Series E round from Indian technology company Zoho Corporation, and Lingotto. The investment from Zoho Corporation was led by Sridhar Vembu, Mani Vembu and Kumar Vembu. Lingotto is an investment firm linked to Ferrari as it is linked to Exor, a major stakeholder in the luxury car company.
As per Niraj Rajmohan, CTO and Co-Founder, Ultraviolette, this investment will be used towards scaling into India and global markets, while focusing on advancing battery technology, performance capabilities and expanding production to support upcoming product platforms. “With the ongoing Series E investments, we are doubling down on growth and expanding our production to meet increasing demand.”
As per the release, this capital in Ultraviolette will accelerate the domestic and international scale up of current products F77 and X-47 and future product platforms Shockwave and Tesseract.
“We are glad to announce our Series E investment from Zoho and Lingotto,” said Narayan Subramaniam, Co-Founder & CEO, Ultraviolette. “Lingotto’s legacy of backing iconic performance and mobility brands, combined with Zoho’s long-term commitment to fostering cutting-edge Indian innovation, aligns perfectly with Ultraviolette’s mission to build category-defining electric mobility solutions for India and global markets.”
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Ultraviolette recently launched the X-47 Crossover electric motorcycle and has expanded to 30 cities across India in a short span of 12 months and is expanding to 100 cities by mid-2026. The X-47 Crossover model priced at Rs 2.49 lakh (ex-showroom), lower than the F77 Mach 2, which is priced at Rs 3 lakhs and F77 Mach 2 Recon, priced at Rs 3.99 lakhs.
The EV motorcycle maker is now present in 12 countries across Europe, after recently landing the United Kingdom with the F77 motorcycle. Ultraviolette is backed by a spectrum of global investors, including TDK Ventures, Qualcomm Ventures, TVS Motors, and Speciale Invest. The company has raised a total of $145 million till date, with the las funding round taking in August this year from TDK Ventures.
The company’s competitors are Tork Motors, Revolt Motors and Ola Electric’s latest offering—the Roadster.