Ultraviolette Automotive on December 13 announced that it has raised a new round of capital in its Series C funding, led by TVS Motor Company.
Zoho Corporation has joined this round to support Ultraviolette’s vision of developing high performance mobility solutions for India and global markets, said a press release.
Ultraviolette, which is setting-up its manufacturing and assembling facility in Bengaluru, will utilise this investment towards the production and commercial launch of its electric motorcycle F77, it said further. The company will roll out the first batch of motorcycles in the first half of 2022, added the release.
Mr. Sudarshan Venu, Joint Managing Director, TVS Motor Company, said, “EVs are a huge focus area for us and we have invested in this area for over a decade. TVS is committed to developing exciting and aspirational products and 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, and we are excited to support this.”
Mr. Sridhar Vembu, Founder and CEO, Zoho Corporation, said, “I am thrilled to support Ultraviolette’s goal towards revolutionising the mobility landscape globally, and I look forward to the launch of the F77 in the months ahead.”
Mr. Narayan Subramaniam, Founder and CEO, Ultraviolette Automotive, said, “This investment from TVS Motor Company and Zoho Corp. is a validation of our endeavour to redefine the future of mobility.”