Now Reading: Ultraviolette seeks $45-50 mn more from existing investors
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Ultraviolette seeks $45-50 mn more from existing investors
Electric two-wheeler maker Ultraviolette is in talks to raise an additional $45-50 million from its existing investors, including Speciale Invest and TDK Ventures. The company, which sells the F77 model, has a…
Electric two-wheeler maker Ultraviolette is in talks to raise an additional $45-50 million from its existing investors, including Speciale Invest and TDK Ventures. The company, which sells the F77 model, has a retail presence in 35 Indian cities and has expanded overseas to a dozen countries after launching in the UK last year.
The funding round comes as the Bengaluru-based firm looks to scale production and expand its global footprint. Neither Ultraviolette nor its investors responded to queries from ET on the matter.
Indian Opinion Analysis
Ultraviolette's focus on premium performance electric motorcycles sets it apart from mass-market EV makers in India. The company competes with players like Ola Electric and Ather Energy, but targets a niche segment with higher price points. Its international expansion, starting with the UK, signals ambitions to compete globally. The fresh funds are likely to go toward R&D and entering more markets. Investors will watch whether Ultraviolette can achieve profitability while maintaining its premium positioning.
Source: auto.economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
