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Two-wheeler electric start-up Ultraviolette Automotive has raised $10 million from a fund managed by Exor Capital. The investment is part of an ongoing Series D round of funding, with Exor Capital as the lead investor.
While Ultraviolette is primed to launch the F77 in India, the investment from Exor will be utilised for expansion across India, ramping up sales of F77 in the country and subsequent expansion in international markets including trials, certifications, and sales.
Narayan Subramaniam, Co-Founder and CEO, Ultraviolette, said, “We are thrilled to have Exor Capital as our investor. With this investment, we now have a diversified group of prominent Indian and international institutional investors backing us in our journey and vision of shaping a new era of mobility not just in India but in global markets as well.”
Since the unveiling of the F77, Ultraviolette has made advancements on the motorcycle across various parameters. The company recently concluded its first public test ride with a group of pilots from the aviation community to demonstrate the F77’s cutting-edge specs and capabilities.
Ultraviolette will roll out public test rides beginning September and will commercially launch the F77 in India this year. The company has received over 65,000 pre-order interests of which India, the US, and Europe represent a significant part of these numbers, it said.
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