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Bengaluru-based Ultraviolette Automotive Pvt Ltd, which is developing electric mobility solutions, has received ₹6 crore from TVS Motor Company, which is part of the ₹11-crore Series A funding from TVS Motor Company. It had received the first tranche of ₹5 crore from TVS Motor Company in December 2017.
Ultraviolette Automotive is currently building an electric motorcycle that is driven by progressive design and energy efficient technology that will outperform traditional ICE motorcycles in the 200-250cc segment. The additional investment will be deployed for continued product engineering and further expansion of its core R&D team and facility.
“At TVS Motor Company, we are committed to creating offerings with best-in-class quality and cutting-edge technology that delights the customer. As a responsible manufacturer, we see immense promise in Ultraviolette Automotive’s vision of bringing innovative and sustainable electric vehicles in India” K. Gopaladesikan, CFO, TVS Motor Company said in a statement.
Commenting on the investment, Narayan Subramaniam, founder CEO, Ultraviolette Automotive, said, “This investment is a validation of TVS Motor Company’s faith in our product and the progress we have made so far with our motorcycle. We are building a high performance electric motorcycle that will be enabled with smart features such as on-board diagnostics, preventive maintenance, over the air upgrades and ride customisation.”
Established in 2016, Ultraviolette Automotive was founded by Narayan Subramaniam and Niraj Rajmohan. The company was born out of the unique vision of creating top-of-the line mobility solutions, that’s driven by progressive design and energy efficient technology.
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