TDK supports ultraviolet with $ 21 million to take electric motorcycles made in India

Two months ago, the Indian startup of ultraviolet electric motorcycles extended in 10 European countries. Now, fueled by $ 21 million in a round of investment capital led by the corporate branch of the Japanese electronics TDK Corporation, Ultraviolette puts its expansion plans in Overdrive.

The nine-year start-up plans to develop quadrafold its European footprint, entering other motorcycle-ordered markets such as Latin America and Southeast Asia, and increasing its 14-model portfolio by the beginning of 2027. The global expansion of Ultraviolette follows the 2024 launch of its flagship model F77 Mach 2 and its second product, F77 SUPERET, in February.

Behind Ultraviolet are two friends of childhood – CEO Narayan Subramaniam and CTO Niraj Rajmohan – who combined their expertise in mechanical engineering, automotive, computer and electronic design to electrify the two -wheeled market from the average segment.

The duo, which was inspired by Tesla, started ultraviolet at a time when the India two-wheeler electric market was dominated by low-speed models, mainly meeting commercial and utility needs. The early boom was motivated by Chinese imports offering low -cost options, followed by a wave of local startups and, more recently, inherited manufacturers in space.

Instead of just becoming another player in this race, the Co-founders of Ultraviolette have decided to build electric motorcycles that could correspond to the performance of 150cc to 800cc of internal combustion motor sports bikes.

“We wondered, if we have to do exciting electricity in two-wheelers, what should it be? And this is the objective with which we started,” said Rajmohan (photo above, right) in an exclusive interview.

The startup based in Bengaluru took approximately four years from its creation in 2016 to unveil the first model in 2019. The startup experienced several design iterations before finalizing the seventh version – hence the name F77. The commercial version made its debut with a fixed battery to deliver more than 186 meals of range and a top speed of 96 miles / hour with a cutting-edge power of 30 kW and up to 100 newton-couple of torque.

The Ultraviolette has also unveiled the light shock wave motorcycle as well as the Tesseract scooter, which includes radars and front and rear cameras to allow assisted driving experience and deadline detection. The scooter costs 120,000 ₹ ($ 1,370), while its motorcycles (ex-showroom) have a basic price of 175,000 ₹ ($ 2,000) and increases to $ 10,000.

Ultraviolette vehicles are equipped with ESIM connectivity and predictive maintenance powered by a proprietary diagnostic system. Rajmohan said the system can detect still minor problems, such as when the chain needs lubrication. The startup offers an application that provides all this information to consumers on the go.

The company has also created a manufacturing and assembly installation in the electronic city of Bengaluru, with a capacity of 30,000 units. Today, the company manages all internally, from the development of software management systems and on -board batteries to engine controllers and even the manufacture of batteries. About 500 people work at Ultraviolette, including 200 business and R&D.

The Ultraviolette commercial model was partly shaped by Tesla owners. The co-founders spent time talking to the owners of Tesla in the United States, who were among the first to buy the S model in 2015, to learn what made this car different from other electric vehicles of its time.

“These Tesla cars were very special because having them was considered progressive. It was more a lifestyle declaration,” Rajmohan told Techcrunch.

The co-founders brought this feeling to the design and the brand of an ultraviolette brand, aimed at making it a global business of the first day. As Rajmohan explained, the word “purple” is pronounced in the same way in more than 30 European languages, while “Ultra” signals something point. Reinforcing this ambition, the startup continued European certification for all its vehicles before entering the market.

This is different from other manufacturers of Indian electric two-wheelers, who tried to meet local demand. India represents almost 40% of world motorcycles sales – Although most of them are supplied by internal combustion engines.

Expanding beyond India has a strategic meaning for the ultraviolet, since the national VE market remains relatively underestimated-with an adoption at only 7.66%, against the global average of 16.48%, according to a recent report by the reflection group supported by the Niti Aayog government. While India is aimed at reaching 30% electric vehicle penetration by 2030, progress has so far suggested that it can be an ambitious target.

India is also a market sensitive to prices, where two-wheelers are generally not discretionary purchases, but essential and affordable daily transport methods. Consequently, the sale of high -scale high -scale variants in the country could be a challenge for the ultraviolet – at least initially.

“We were very clear that what we do is, we are working towards segments of a more universal nature,” said Rajmohan.

What is the next step?

Ultraviolette plans to expand the capacity of its Bengaluru production plant up to 60,000 units and add a larger location to evolve at around 300,000 units at the start of next year. Ultraviolette operates 20 stores in 20 Indian cities and plans to increase to around 100 by March next year. About 50 of these stores – one per city – should open by the holiday season later this year.

Rajmohan told Techcrunch that the startup is working to expand its European presence, where it has 40 dealers.

“Next year is the place where scaling occurs in Europe,” he said.

The startup also plans to start its pilot in Latin America and Southeast Asia next year and go to markets such as the United States and Japan later.

Ultraviolette sold more than 3,000 motorcycles in India and planned to sell up to 10,000 later this year. He also targeted more than $ 50 million in income by the end of this exercise. To date, he has collected around $ 75 million in funding and Qualcomm Ventures, Exor and TVS Motor among his other key investors.