Zoho-backed Ultraviolette raises $45 Mn in ongoing Series E round

Electric mobility firm Ultraviolette has raised $45 million in its ongoing Series E round from Zoho Corporation and Italy-based investment firm Lingotto. 

The Bengaluru-based company did not disclose the full size of the round or its valuation.

In August this year, Ultraviolette had raised $21 million from TDK Ventures, also as part of this continuing fundraise. Entrackr had exclusively reported on the new round in May 2025. 

The proceeds will be used to scale production of its two current motorcycles, the F77 electric sports bike and the recently launched X47 crossover, and to advance its next product platforms, internally codenamed Shockwave and Tesseract.

Ultraviolette is also expanding its domestic and international presence as competition in the electric two-wheeler market intensifies. 

The company now has retail operations across 30 cities in India and plans to scale to 100 cities by mid-2026. It has also begun selling the F77 in the UK, increasing its footprint to 12 countries. 

The F77 motorcycles were recently launched in the United Kingdom. With this, Ultraviolette is now present in 12 countries across Europe.

According to TheKredible, Ultraviolette has raised a total of $145 million of funding to date, having TVS Motor Company and Mudhal Partners as its lead investors. 

Ultraviolette sold around 1,168 vehicles in 2025, according to Vahan data. As per TheKredible, the company’s revenue from operations grew to Rs 32.3 crore in FY25 from Rs 15 crore in FY24, while net loss increased 88% to Rs 116 crore in FY25 from Rs 61.6 crore in FY24.

It competes with Tork Motors, Revolt Motors and Ola Electric’s Roadster, among others.