Ultraviolette Automotive raises additional Rs. 30 crore from TVS Motor Company

Bengaluru primarily based electrical automobile producer Ultraviolette Automotive has just lately introduced receiving an extra Rs 30 crore from TVS Motor Firm, as part of its Sequence B funding. This will likely be used primarily for testing and manufacturing that will likely be accomplished in a phased clever method. The corporate that began with a bootstrapped Rs 50 lakh from the founders, had acquired Rs 5 crore in 2017 from TVS, the place the latter acquired a stake of 14.78 per cent within the electrical startup. Final 12 months, Ultraviolette acquired an funding of Rs. 6 crore from TVS Motor Firm as a part of the Sequence A funding, which was used for product engineering and analysis and growth of latest providing. The corporate has confirmed that the Ultraviolette F77 will likely be launched subsequent 12 months and will likely be delivered throughout the nation in a phased method. Here’s our detailed first ride review.

“Now we have seen important developments within the transportation and mobility trade globally, with an elevated demand for private mobility in current instances. We additionally see fast progress within the Indian two-wheeler trade with a particular deal with electrical automobiles, and it’s on this context that we got down to create the F77 – India’s first high-performance motorbike. We unveiled the motorbike lower than a 12 months in the past, and since then, we now have achieved important strides in making the F77 production-ready. Now we have performed aggressive monitor and highway assessments on the motorbike, adjusting and modifying the specs to an all-new degree of perfection and have constructed out a sturdy expertise platform to assist an enhanced consumer expertise” commented, Narayan Subramaniam, Founder and CEO, Ultraviolette Automotive Pvt. Ltd.

“The F77 is high-end expertise, and a excessive performance-oriented motorbike constructed with rules used within the aviation trade – proper from the superior engineering simulations, multi-level security techniques to the design id of the motorbike. The F77 is a brilliant and related electrical motorbike that comes with distant diagnostics over-the-air (OTA) upgrades, regenerative braking, a number of journey modes, bike monitoring, journey diagnostics and a complete lot of different options.” commented, Niraj Rajmohan, Founder and CTO, Ultraviolette Automotive.

“Ultraviolette Automotive continues to exhibit glorious engineering and technological capabilities and innovativeness in creating high-performance electrical bikes. TVS Motor is happy to see the progress and developments made by the UV staff and we’re assured that these actions will go a great distance in direction of establishing a greener future for India.” stated Manu Saxena, Vice President (Future Mobility & Supplier Transformation), TVS Motor Firm.