Ultraviolette Secures INR 130 Cr Funding from Zoho

-Ultraviolette, which was founded in 2016, has been working on developing high-performance electric motorcycles. 

-With the funding round, Ultraviolette is well-positioned to take on the established players in the two-wheeler market in India.

-TVS Motor Company, and other investors also participated in the funding round.

Bengaluru-based electric motorcycle manufacturer Ultraviolette has secured INR 130 Cr in funding from Zoho, TVS Motor Company, and other investors. The oversubscribed funding round will enable the startup to scale up operations, expand product portfolio, and enhance its research and development capabilities.

Ultraviolette was founded in 2016 by Narayan Subramaniam and Niraj Rajmohan. The startup had previously received funding from TVS Motor Company in 2018. This recent funding round is a significant milestone for the startup, which aims to disrupt the traditional two-wheeler market in India.

Narayan Subramaniam, co-founder and CEO of Ultraviolette, has over 15 years of experience in the automotive industry. Prior to founding Ultraviolette, he worked with companies including TVS Motor Company and Ashok Leyland. 

Niraj Rajmohan, cofounder and CTO, has over 10 years of experience in the automotive industry, having worked with companies such as TVS Motor Company and Royal Enfield. The founders' experience in the automotive industry has been instrumental in shaping Ultraviolette's vision and strategy.

The recent funding round is a testament to the growing interest in the electric vehicle space in India. In recent months, several electric vehicle startups have raised significant funding. 

"Ultraviolette is poised to revolutionize the two-wheeler market in India with its high-performance electric motorcycles.The funding round will help us scale up our operations and expand our product portfolio to cater to the growing demand for electric vehicles in India," said Srinivasan, cofounder of Ultraviolette. 

With this funding round, Ultraviolette is well-positioned to take on established players in the two-wheeler market in India and emerge as a leader in the electric vehicle space. 

The startup's focus on high-performance electric motorcycles, combined with its experienced management team and strong investor backing, makes it an exciting player to watch in the Indian electric vehicle market.