Bengaluru electric vehicle startup, Ultraviolette Automotive has started shipping deliveries of the F77, its high-performance electric motorcycle, to customers at its manufacturing facility in Bengaluru.
This the company says marks the start of its next stage of growth, which includes setting up dealerships nationwide and expanding its global presence.
In fact, as part of its global ambition, Ultraviollete Automotive has announced plans to raise $120 million (Rs 990 crore) to fund its global expansion plans and support its vehicle development platform.
Till date, the start-up has raised over $55 million (Rs 453 crore) from investors including Exor Capital, Qualcomm Ventures, TVS Motor Company, Zoho Corp, Gofrugal Technologies and Speciale Invest.
Narayan Subramaniam, CEO and Co-Founder, Ultraviolette said, “The F77 is a result of our pursuit of creating an electric motorcycle that is a head-turner across all parameters. Its stunning design and exhilarating performance are one-of-a-kind and proudly Indian in every aspect.”
With deliveries underway, Ultraviolette is now turning its attention to expanding its presence both nationally and globally.
It is establishing a network of dealerships nationwide and is also working towards accelerating its expansion into new international markets, where it sees a growing demand for performance electric motorcycles.
Niraj Rajmohan, Co-Founder and CTO, Ultraviolette said, “Our investors share our vision for the future of transportation. With the commencement of deliveries of the F77, we must keep looking forward and pushing through to Ultraviolette’s next phase of growth. The infusion of funds from partners who share our vision will enable Ultraviolette to scale new vehicle programs, expand our domestic footprint, and accelerate international product rollout.”