Ultraviolette Automotive raises funding from TVS Motor Company in a Series C funding round. Ultraviolette Automotive is a Bengaluru-based EV startup located in Electronic city.
The funding will assist the company in developing good quality mobility solutions for the country and for the world. The company will use the funds for manufacturing and launching F77, its electric motorcycle.
Around 50000 bookings have already been made for the e-motorcycle and test rides will begin in the first half of 2022 along with deliveries.
Sudarshan Venu, Joint Managing Director of TVS Motor Company, said, “We have always believed that EV development has to be ground-up for us to make that quantum leap into the global EV revolution. Ultraviolette brings these values to life in a unique way in the F77.”
Narayan Subramaniam, Founder, and Chief Executive Officer, Ultraviolette Automotive, said, “By 2025-26, Ultraviolette is looking to be a dominant player in the electric mobility segment. The company is developing in-house battery technologies and working on the other parts of EVs, including vehicle architecture and their scalability to different segments and platforms.”
Moreover, electric Vehicles contributes towards improving air quality and that’s why it has become so relevant in today’s times. Various state governments have already launched policies for boosting the adoption of EVs in the country.
