Premium EV maker Ultraviolette has raised $85 million in a round led by deep-tech fund Yali Capital and TDK Ventures, with participation from Lip-Bu Tan, Chairman of Walden International and Advisor to Ultraviolette, alongside the company’s existing and long-term investors.
The company is targeting entry into the United States in 2027, alongside a broader expansion across key markets in Latin America and Southeast Asia.
Ultraviolette will deploy the capital towards scaling production of its current products, F77 and X-47, as well as its upcoming products, Tesseract and Shockwave, to meet rapidly growing domestic and international demand.
Ultraviolette founders Narayan Subramaniam and Niraj Rajmohan said, “This funding round represents an important step in Ultraviolette’s evolution into a global electric mobility company. The conviction demonstrated by Yali Capital, TDK Ventures, Lip-Bu Tan and our long-term investors reinforces our vision of building a design- and technology-focused global brand out of India. This investment will enable us to scale manufacturing, accelerate the development of our future product platforms and deepen our presence across international markets. Our single-minded focus is on becoming a global leader in future mobility.”
The fundraise comes as the company accelerates its scale-up plans, targeting monthly sales of 1,000 units by the end of 2026 as it gears up for its next phase of growth ahead of a planned initial public offering (IPO) and the commercial rollout of its electric scooter, Tesseract.
The company is also aggressively expanding its overseas operations, targeting 5X growth in exports this financial year as it ramps up its international presence. Exports currently account for about 10% of the company’s business in FY26.
The company currently exports to about 19 markets, predominantly in Western Europe, including Italy, France, Germany, Spain, the Netherlands and the UK. It is also planning pilot launches in Latin America and Southeast Asia.
The company also has plans to scale up production with the launch of its new facility, the Big Global Ambition (BIGGA) Factory, near Hosur in Tamil Nadu. Ultraviolette’s cumulative investment in the facility over the next four to five years is expected to be around ₹779 crore.
Published on September 23, 2026
