Ultraviolette raises $85 million, targets US launch in 2027
Kalpana Maurya
1 Oct 2026 · 3 min read
Ultraviolette Automotive has raised $85 million in a round led by Yali Capital and TDK Ventures, with Walden International chairman Lip-Bu Tan investing and joining as an advisor. The Bengaluru company plans to enter the US in 2027 and launch its Shockwave motorcycle and Tesseract scooter in early 2027.
Ultraviolette Automotive, the Bengaluru-based electric motorcycle maker, has raised $85 million in a round led by Yali Capital and TDK Ventures. Lip-Bu Tan, chairman of Walden International, invested alongside existing shareholders and has joined the company as an advisor. The round was announced on 23 September 2026.
Inc42's weekly funding tracker classified the deal as a Series E. Startup Story reported that it follows $66 million already raised in Ultraviolette's ongoing Series E, comprising $21 million from TDK Ventures and $45 million from Zoho Corporation and Lingotto, taking disclosed fundraising since August 2025 to $151 million.
What the money is for
The company will use the capital to scale production of its F77 and X-47 motorcycles and its upcoming Tesseract scooter and Shockwave enduro motorcycle. It will also fund next-generation EV platforms across battery technology, power electronics, vehicle architecture and software. Ultraviolette has built battery architectures from 48V to 400V.
Ultraviolette sells in India and 20 European countries. It is targeting the US in 2027 and also plans to expand into Latin America and Southeast Asia. Yali Capital founding managing partner Ganapathy Subramaniam told EVreporter that the firm was drawn by the depth of engineering the team has built in-house.
Shockwave and Tesseract move to 100V
Days after the funding, on 29 September, Ultraviolette told BusinessLine that the Shockwave will be built on its new 100V architecture and launch in the first quarter of 2027. The Tesseract scooter, originally planned around a powertrain derived from the F77 and X-47, was earlier redesigned around the same platform, which pushed its launch to Q1 2027. The company says the architecture improves power delivery, thermal efficiency and charging.
A dedicated Shockwave production line is being set up at the existing plant, and the motorcycle will come in single-seat and dual-seat versions. Final specifications have not been disclosed. Co-founder and CEO Narayan Subramaniam said the Shockwave and Tesseract had been developed in parallel over the past year.
Manufacturing capacity
Startup Story and EVreporter say the round follows the announcement of a new manufacturing facility with annual capacity of up to 500,000 units. Separately, Subramaniam told BusinessLine that the current facility is built for about 50,000 to 60,000 vehicles a year and that a second phase will lift capacity to 1.5 lakh units, largely to support scooters.
About Ultraviolette
Ultraviolette was founded in 2016 by Narayan Subramaniam and Niraj Rajmohan and develops electric vehicles and battery technology. Its investors include Lingotto, TDK Ventures, Qualcomm Ventures, Zoho Corporation, TVS Motors and Speciale Invest.
Key facts
- Company: Ultraviolette Automotive (Bengaluru)
- Founders: Narayan Subramaniam (Co-founder and CEO), Niraj Rajmohan
- Founded: 2016
- Round: Series E (per Inc42)
- Amount: $85 million
- Lead investors: Yali Capital, TDK Ventures
- Other investors: Lip-Bu Tan (also joins as advisor), existing investors
- Markets: India and 20 European countries; US entry targeted for 2027
- Announced: 23 September 2026
Frequently asked questions
How much did Ultraviolette raise?
Ultraviolette raised $85 million in a round led by Yali Capital and TDK Ventures.
Who founded Ultraviolette?
Narayan Subramaniam and Niraj Rajmohan founded the company in 2016. Subramaniam is co-founder and CEO.
When will Ultraviolette enter the US?
The company is targeting a US launch in 2027 and also plans to expand into Latin America and Southeast Asia.
When will the Shockwave launch?
The Shockwave, built on Ultraviolette's 100V architecture, is slated for the first quarter of 2027.
What is Lip-Bu Tan's role?
The Walden International chairman invested in the round and joined Ultraviolette as an advisor.
