Following the successful unveiling of its motorcycle F77, Ultraviolette Automotive, an innovator in sustainable mobility, announced on September 3 that it had received an additional investment of Rs 30 crore from TVS Motor Company. The investment is part of its latest round (Series B) of funding.
Ultraviolette Automotive set out to build the country’s first high-performance electric motorcycle, F77, three years ago and unveiled its pre-production version in November last year, according to a press release issued bythe company.
Commenting on the additional investment, Mr Manu Saxena, Vice-President (Future Mobility & Dealer Transformation), TVS Motor Company, said, “Ultraviolette Automotive continues to demonstrate excellent engineering and technological capabilities and innovativeness in developing high-performance electric motorcycles. TVS Motor is excited to see the progress and developments made by the UV team and we are confident that these actions will go a long way towards establishing a greener future for India.”
Mr Narayan Subramaniam, Founder and CEO, Ultraviolette Automotive Pvt. Ltd, said, “TVS Motor Company has always shared our passion for building globally competitive and futuristic mobility solutions, and we are excited about our continued partnership with them.”
Mr Niraj Rajmohan, Founder and CTO, Ultraviolette Automotive, said, “The F77 was conceived with a single-minded purpose of creating an identity for electric mobility in India, and TVS Motor Company has been a strategic partner in this journey. Since the unveiling, we have received an overwhelming response from the market for the F77, and we have spent the last few months making critical enhancements both on the design and technology side to make the F77 more efficient, responsive and powerful.”