Ultraviolette Automotive to raise ₹32.6 crore in extended Series E round

Narayan Subramaniam, Founder and CEO, Ultraviolette Automotive
| Photo Credit:
SOMASHEKARA GRN

Electric vehicle platform and battery technology company Ultraviolette Automotive will raise ₹32.6 crore in an extended Series E1 round led by Winever Industrial Enterprises and Dilip Anand Swadi with the participation of Breathe Capital and others.

The round is extention of the ₹130 crore round led by Zoho Corporation raised in December last year.

Ultraviolette Automotive intends to expand into regions with strong demand for sports motorcycles, focusing on cities in the East and key State capitals, reported businessline. The company has a presence in twelve Indian cities which include, Pune, Kochi, Hyderabad, Ahmedabad, Vizag and Bengaluru.

The company aims to achieve operational breakeven by the second half of next year. Currently, it is profitable at the gross margin level, Narayan Subramaniam, Co-founder, CEO, earlier told businessline.

Founded in 2016, Ultraviolette has raised $79.1M in 13 rounds of funding, according to data from tracxn. The company most recently raised ₹130 crore in a Series D round led by existing investors Zoho, Mudhal Partners and Ojas Consultation.

The Bengaluru-based company was founded by Preetham Murthy, Niraj Rajmohan and Narayan Subramaniam and manufactures performance motorcycles.

Ultraviolette incurred a net loss of ₹61.5 crore in the financial year 2023-24 (FY24) on an operating revenue of ₹15 crore.

Published on May 2, 2025