Ultraviolette Automotive revealed that it had secured INR 30 crore by the leading two wheelers and three-wheeler manufacturer TVS Motor Company, as a part of its ongoing Series B funding round.
Undisclosed sources within the company added that the round would soon see investment from several other key shareholders.
Narayan Subramaniam, Founder and CEO, Ultraviolette Automotive Pvt Ltd, said in a press statement,
“We have seen significant advancements in the transportation and mobility industry globally, with an increased demand for personal mobility in recent times. We also see rapid growth in the Indian two-wheeler industry with a special focus on electric vehicles, and it is in this context that we set out to create the F77 – India’s first high-performance motorcycle.”
“We unveiled the motorcycle less than a year ago, and since then, we have achieved significant strides in making the F77 production-ready. We have conducted aggressive track and road tests on the motorcycle, adjusting and modifying the specifications to an all-new level of perfection and have built out a robust technology platform to support an enhanced user experience. 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.”
