Bengaluru-based electric bike startup Ultraviolette Automotive is charging forward with fresh momentum, securing Rs 32.6 crore (around $3.85 million) in an extended Series E1 funding round. This latest injection of capital is led by Winever Industrial Enterprises and investor Dilip Anand Swadi, who are each contributing Rs 10 crore to support the company’s vision for a greener future.
The round builds on a Rs 130 crore investment led by Zoho Corporation in December 2024, reinforcing continued confidence in Ultraviolette’s mission to revolutionize urban mobility with clean energy.
The company’s regulatory filings with the Registrar of Companies (RoC) reveal that the board approved the issuance of 1,13,540 Series E1 preference shares at Rs 2,874 each to raise the new funds. Alongside the lead investors, Breathe Capital has pledged Rs 6 crore, while other notable participants include Twin & Bull Family Office (Rs 2.5 crore), Mangalam Equity Management (Rs 2 crore), and individual investors like Resolute Futurewave and Koo’s CEO Aprameya Radhakrishna, who are each contributing Rs 1 crore.
Founded in 2016, Ultraviolette has steadily positioned itself as a homegrown pioneer in the electric two-wheeler space. Its product lineup includes four futuristic e-bike models: F77 Mach 2, F77 SuperStreet, Tesseract, and Shockwave—each reflecting the startup’s commitment to performance, design, and sustainability.
While still scaling operations, the company has already made notable progress, selling 543 vehicles in FY25, with 86 units sold in April alone, according to data from Vahan.
Ultraviolette’s long-time backer, TVS Motor, also had a strong month, emerging as the top electric two-wheeler seller in India in April 2025 with 19,736 units sold, capturing a 22% market share.
With this new round of funding, Ultraviolette is expected to ramp up production, invest in technology, and expand its reach—fueling a vision where Indian roads are cleaner, quieter, and a lot more electric.
