Ultraviolette Automotive has started shipping its high-performance electric motorcycle, the F77, to customers. The company claims that this is the beginning of its next phase of growth, which will see it open dealerships across the country and broaden its global reach.
In fact, as part of its global expansion plans and in support of its vehicle development platform, Ultraviollete Automotive has announced plans to raise $120 million (Rs 990 crore). Exor Capital, Qualcomm Ventures, TVS Motor Company, Zoho Corp, Gofrugal Technologies, and Speciale Invest are just a few of the investors who have contributed over $55 million (roughly Rs 453 crore) to the startup so far.
Narayan Subramaniam, CEO and Co-Founder, Ultraviolette said, “The F77 is a result of our pursuit of creating an electric motorcycle that is a head-turner across all parameters. Its stunning design and exhilarating performance are one-of-a-kind and proudly Indian in every aspect.”
With deliveries underway, Ultraviolette is now turning its attention to expanding its presence both nationally and globally. It is establishing a network of dealerships nationwide and is also working towards accelerating its expansion into new international markets, where it sees a growing demand for performance electric motorcycles.
Niraj Rajmohan, Co-Founder and CTO, Ultraviolette said, “Our investors share our vision for the future of transportation. With the commencement of deliveries of the F77, it’s vital that we keep looking forward and pushing through to Ultraviolette’s next phase of growth. The infusion of funds from partners who share our vision will enable Ultraviolette to scale new vehicle programs, expand our domestic footprint, and accelerate international product rollout.”
