1 year ago
Ultraviolette Raises $21M to Boost EV Two-Wheeler Production
Ultraviolette, a company that makes electric motorcycles, received $21 million in new funding.
TDK Ventures, along with previous investors, provided the money.
This will help Ultraviolette grow by expanding its retail presence and by selling more bikes globally.
The company is also increasing manufacturing, research, and expanding its distribution network.
They plan to expand from 20 cities to over 100 cities across India.
Ultraviolette, an electric two-wheeler maker, secured $21 million in funding.
TDK Ventures led the funding round with participation from existing investors.
The investment will support expansion of retail presence and global market reach.
Ultraviolette is scaling up manufacturing and accelerating research.
The company plans to expand its distribution network from 20 to over 100 cities in India.
- Who
- Ultraviolette and TDK Ventures.
- What
- Ultraviolette secured $21 million in funding.
- Where
- India and global markets.
- When
- Announced on Tuesday
- Why
- To expand retail presence, scale manufacturing, and accelerate research.
Key facts
- Company
- Ultraviolette
- Investor
- TDK Ventures
- Funding Amount
- $21 million
- Other Investors
- Zoho Corporation, Lingotto
- Product
- Electric Motorcycles
- Expansion Plans
- Global markets, India (100+ cities), expand manufacturing
Timeline
Ultraviolette aimed to grow, needing more capital for expansion.
Then, the electric motorcycle maker secured $21 million in funding.
Quotes
Ravi Jain
Investment Director of TDK Ventures
“We look forward to bringing our TDK Goodness to Ultraviolette and their ambitious plan to design the next generation of energy efficient and performance EV 2W platforms.”
thehindubusinessline.com
Narayan Subramaniam
Co-founder and CEO of Ultraviolette
“Our partnership with TDK Ventures fast forwards our efforts, from advanced battery platforms to intelligent vehicle systems. This collaboration not only accelerates our vision of future ready mobility but also reinforces our commitment to delivering electric vehicles that are aspirational and globally relevant.”
thehindubusinessline.com
Sources
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