Ultraviolette secures $85 million funding; eyes US entry in 2027

CHENNAI: Electric vehicle manufacturer Ultraviolette on Wednesday announced a new funding round of $85 million. 

The round was led by Deep Tech Fund Yali Capital and TDK Ventures and investment from LipBu Tan, chairman of Walden International and advisor to Ultraviolette, alongside Ultraviolette’s current and long-term investors.

The funding marks an important milestone in the TVS Motor and Zoho-backed Ultraviolette’s journey as it scales its manufacturing capabilities, advances the development of its next generation of electric vehicle platforms and accelerates its international expansion.

The company is targeting entry into the United States in 2027, alongside a broader expansion across key markets in Latin America and South-East Asia, as per a release.

Ultraviolette will deploy the capital towards scaling production for its current products F77 and X-47 and upcoming products, Tesseract and Shockwave, to serve the rapidly growing domestic and international demand.

This investment will also support the development of Ultraviolette’s next generation of global EV platforms, it added. 

These platforms will build upon the company’s vertically integrated capabilities across battery technology, power electronics, vehicle architecture and intelligent software.

Ultraviolette has built deep technical capabilities spanning battery architectures from 48V to 400V, enabling the company to develop electric mobility solutions across multiple vehicle segments and performance requirements. Ultraviolette is one of the only electric vehicle manufacturers globally with in-house technology capabilities spanning this range of battery architectures.