Yali Capital, a Bengaluru (Karnataka)-based venture capital firm focusing on early-stage deep tech startups, and TDK Ventures led the new funding round. Lip-Bu Tan, president of US venture capital firm Walden International and CEO of Intel, also participated alongside current and long-term Ultraviolette investors.
The new capital injection will help Ultraviolette expand production of the current F77 and X-47, as well as the upcoming Tesseract scooter and Shockwave enduro motorcycle. The financing will also support the development of global next-generation electric vehicle platforms.
In addition to investing in Ultraviolette, Tan joined the Indian startup as an advisor. “What I really like about Ultraviolette is the combination of deep engineering expertise, strong intellectual property and a willingness to tackle genuinely difficult problems. They have built the technology from first principles and are focused on creating something that is truly differentiating in the long term,” he said.
Ultraviolette began deliveries of the F77 in the domestic market in early 2023, followed by the
The Indian startup has built a significant global presence over the past two years, entering 20 European markets. It aims to begin operations in the US in 2027 and also plans to expand into Latin America and Southeast Asia.
Ultraviolette manufactures the F77 and X-47 at a factory with an annual production capacity of 30,000 units in Bengaluru. It plans to expand the capacity of the existing plant up to 50,000 units and build a 250,000-unit manufacturing facility in Hosur (Tamil Nadu). The annual production capacity of the new factory will be expandable to 500,000 units when necessary.
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