Two months ago, the Indian electric motorcycle startup Ultraviolet expanded in 10 European countries. Now, the Japanese electronics giant TDK Corporation led by the corporate venture branch of the Japanese veteran TDK Corporation, fuel with $ 21 million in an all-equity round, Ultraviolet is putting its expansion plans into the overdrive.
The nine-year-old startup plans to increase its European footprints four times, entered other motorcycle-operated markets such as Latin America and Southeast Asia, and increased its portfolio to 14 models in early 2027. The global expansion of the Ultraviolet has followed its F77 Mach 2 flagship model and its other product, F77 superatory’s 2024 launch.
The two childhood friends behind the Ultraviolet are CEO Narayan Subramaniam and CTO Neeraj Rajmohan-Ji joined their expertise in mechanical engineering, automotive design, computer science and electronics to jointly electrify the two-segment two-wheeler market.
The pair, who took inspiration from Tesla, began Ultraviolet when the dominance of a low-speed model in India’s electric two-wheeler market, mainly for commercial and utility needs. The initial boom was operated by Chinese imports offering low -cost options, followed by a wave of homegron startups and recently, heritage manufacturers were entering space.
Instead of becoming just one more player in that race, Ultraviolet co-founders set to create electric motorcycles that could match the performance of the 150cc internal combustion engine sports bikes from 150cc.
In a special interview, Rajmohan (depicted above, right) said, “We asked ourselves, if we have to make the electric exciting in two-wheelers, what would be this? And the purpose with which we started,” said Rajmohan (painted above, right) in a special interview.
Bangalore -based startup took nearly four years from its establishment in 2016 to unveil the first model in 2019. Before finalizing the Startup Seventh Edition, many designs pass through recurrence-hence the name F77. The commercial version began with a range of over 186 miles and a top speed of 96 mi/hour with 30kw peak power and a certain battery pack for torque up to 100 newton-meters.
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Ultraviolet has unveiled light shock wave motorcycles as well as tesurect scooters, with a supporting-driving experience and blindspot to be able to detect the front and rear radar and cameras. The scooter is priced at ₹ 145,000 ($ 1,650), while its motorcycle (East-Shoreroom) is the base value of ₹ 175,000 ($ 2,000) and goes up to $ 10,000.
Ultraviolet vehicles are equipped with ESIM connectivity and have a future maintenance maintenance facilitated by a proprietary diagnosis system. Rajmohan said that the system can also detect minor issues, such as when the series requires lubrication. Startup offers an app that provides all the insight to the moving consumers.
The company has also established a manufacturing and assembly facility in the city of Electronics in Bengaluru with a capacity of 30,000 units. Today, the company handles everything in-house, from developing embedded software and battery management systems to motor controller and even battery manufacturing. Around 500 people work in Ultraviolet, including 200 in corporate works and R&D.
Ultraviolet’s business model was shaped in part by Tesla owners. Co-founders spent time talking to Tesla owners in the US, who were the first people to buy model S in 2015, to find out what the car did separate from other EVs of its time.
“These Tesla cars were very special, because his owner was seen as a progressive. It was a lifestyle statement,” Rajmohan told Tekkrench.
Co-founders brought the feeling for the design and branding of the ultraviolet, which aims to make it a global company from day one. As Rajmohan explained, the term “violet” is equally pronounced in more than 30 European languages, while “Ultra” indicates some sophisticated. Strengthening that ambition, the startup pursued European certification for all its vehicles before entering the market.
It is contrary to other Indian electric two-wheeler manufacturers who have tried to meet the local demand. India Global motorcycle is about 40% of sales – Although most of them are powered by internal combustion engines.
Extension beyond India creates a strategic meaning for ultraviolet, given that the domestic EV market remains relatively low – with adoption at only 7.66%, compared to a global average of 16.48%, according to A. Recent report The government -supported think tank Neeti Ayog. While India aims to reach 30% EV penetration by 2030, progress so far suggests that it can be an ambitious goal.
India is also a price-sensitive market, where two-wheelers usually do not do discretionary purchases, but are essential and inexpensive modes of daily transport. As a result, selling high-end variants on the scale in the country can be a challenge for ultraviolet-less than less.
“We were very clear that what we are doing, we are working towards areas that are more universal in nature,” Rajmohan said.
What will happen next?
Ultraviolet plans to expand its Bangalore production facility to 60,000 units and to add a large space for about 300,000 units earlier next year. Ultraviolet operates 20 stores in 20 Indian cities and is planning to increase by about 100 by March next year. About 50 – out of those shops – this year is expected to open in the festive season.
Rajmohan reported that Techcrunch the Startup is working on expanding its European appearance, where he has 40 dealers.
“The next year is where there is a scale-up in Europe,” he said.
The startup planned to start its pilot in Latin America and Southeast Asia next year and later move to markets including the US and Japan.
Ultraviolet has sold over 3,000 motorcycles in India and estimated to sell up to 10,000 at the end of this year. It has targeted more than $ 50 million in revenue by the end of this financial year.
The new funding witnessed participation from the current investors Zoho Corporation and Lingotto (Extra Capital) of Ultraviolet. To date, it has raised about 75 million dollars in funding and counts to Qualcomm Ventures, Extures and TVS Motor among its other major investors.
