EV startup Ultraviolette raises $15M in a Series C round

Bengaluru-based electric two-wheeler startup Ultraviolette Automotive has raised $14.85 million (about Rs 112 crore) in a Series C funding round led by TVS Motor and Zoho Corporation.

According to the data, TVS Motor led the round, infusing $9.9 million (Rs 75 crore), while Zoho has invested $5 million (Rs 37.5 crore) for a 2.46% stake in the EV startup.

Earlier in September 2020, The startup had raised Rs 30 crore in a Series B funding round from TVS Motor Company. With the current round of funding, Ultraviolette has raised over $19 million in its funding rounds, according to CrunchBase.

Founded in 2015 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette Automotive is an EV startup that designs, develops, and manufactures electric two-wheelers and their accessories.

Ultraviolette, which recently announced its new F77 electric bike, claims to have a battery capacity of 4.2kWh and can have a full charge within 1.5 hours through fast charging. Apart from this, The EV company claims that the bike can reach 0-60 kmph within 2.9 seconds and 0-100 kmph within 7.5 seconds.

While the company has already launched the prototype of electric motorbikes and has plans to enter into the production of electric bikes by March 2022, the report said.

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