Electric bike maker Ultraviolette raises $21 million

Bengaluru: Electric motorcycle maker Ultraviolette announced on Tuesday that it has raised $21 million (approximately Rs 184 crore). TDK Ventures, the corporate venture capital arm of TDK Corporation focused on deep tech investments has invested in this round. The fresh capital will help Ultraviolette develop and scale globally competitive, performance-oriented electric vehicles, the company said in a statement.

With this round, Ultraviolette’s total funding raised crosses $75 million.

TDK Ventures joins a roster of prominent institutional investors, including Qualcomm Ventures, Zoho Corporation, Speciale Invest, Lingotto (formerly Exor Capital), and TVS Motor Company. Notable individual investors in Ultraviolette include Sriharsha Majety (Co-founder & CEO, Swiggy), Ankit Nagori (Co-founder, Cure Foods; former Chief Business Officer, Flipkart), Aprameya Radhakrishna (Co-founder, TaxiForSure), and Dulquer Salmaan (actor and automotive enthusiast).

“Mobility is undergoing a radical transformation, and at Ultraviolette, we are leading that change through cutting-edge innovation. Our partnership with TDK Ventures accelerates our efforts—from advanced battery platforms to intelligent vehicle systems. This collaboration not only fast-tracks our vision of future-ready mobility but also reinforces our commitment to delivering electric vehicles that are aspirational and globally relevant,” said Narayan Subramaniam, CEO and Co-founder of Ultraviolette.

This investment underscores TDK Ventures’ dedication to advancing sustainable transportation technologies worldwide. The strategic partnership places TDK Ventures at the forefront of India’s electric two-wheeler revolution.

In late 2023, TDK Ventures inaugurated its Bengaluru Innovation Hub to empower India’s deep-tech entrepreneurs, helping them scale their technologies globally by leveraging TDK’s expertise in nurturing startups around the world.