Indian electric two-wheeler manufacturer Ultraviolette Automotive has secured $85 million in a new funding round. The investment was led by Yali Capital and TDK Ventures, with participation from Lip-Bu Tan and existing investors. Lip-Bu Tan, who serves as CEO of Intel and Chairman of Walden International, has also joined the company as an advisor.
The company intends to use the capital to scale production of its current F77 and X-47 models, as well as to develop the upcoming Tesseract scooter and Shockwave enduro motorcycle. Funds are also allocated for the creation of new-generation global electric vehicle platforms.
Ultraviolette currently operates a factory in Bengaluru with an annual capacity of 30 000 units. The startup plans to increase this to 50 000 units and construct a new facility in Hosur with an initial capacity of 250 000 units, which can be scaled up to 500 000 units.
Following its entry into 20 European markets over the past two years, the company is targeting a U.S. launch in 2027. Further expansion plans include entering markets in Latin America and Southeast Asia. The company began domestic deliveries of the F77 in early 2023 and the X-47 in late 2025, with the Tesseract scheduled for early 2027.
