In order to fund its continuous efforts to create new car platforms and promote its national and worldwide expansion, Ultraviolette Automotive intends to raise $120 million in a new round of funding. For FY24, it plans to raise these sums. 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.”

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