Truly International News Journal

Truly International News Journal

Thursday, October, 6, 2022

Press Release

Sudarshan Venu, JMD, TVS Motor Company Leads Series C Funding for Ultraviolette Automotive
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                            Bengaluru, Karnataka, India:
                         Ultraviolette Automotive Pvt. Ltd., an innovator in sustainable mobility, today announced that it has raised a new round of capital in its Series C funding, led by TVS Motor Company to support Ultraviolette’s vision of developing high performance mobility solutions for India and global markets. TVS Motor Company, which has been an early backer of the company, has led the investment in this round.Ultraviolette Automotive, which is setting-up its manufacturing and assembling facility in Electronics City, Bengaluru, will utilize this investment towards the production and commercial launch of its high-performance electric motorcycle, the F77, and will roll out the first batch of motorcycles in the first half of 2022. 

Commenting on the investment, Sudarshan Venu, Joint Managing Director, TVS Motor Company, stated, “EVs are a huge focus area for us and we have invested in this area for over a decade. TVS is committed to developing exciting and aspirational products and we have always believed that EV development has to be ground-up for us to make that quantum leap into the global EV revolution. Ultraviolette brings these values to life in a unique way in the F77, and we are excited to support this! We are delighted that we chose to partner with them at an early stage, and I am confident that Ultraviolette’s EV line-up will see rapid adoption across the country and the world.’’
 Ahead of the commercial launch of the motorcycle, Ultraviolette Automotive has been rigorously testing the F77 across different terrains in the country, to validate the motorcycle’s drivetrains, chassis and battery capability using several quantitative and qualitative parameters. The company is currently in the final stages of testing and will commence production of the F77 in the first half of 2022.
 Narayan Subramaniam, Founder and CEO, Ultraviolette Automotive Pvt. Ltd. said, ‘’Innovation, design, and performance are critical elements for triggering a revolution, and I believe that Ultraviolette personifies these elements to deliver an exhilarating mobility experience. Consumer preference will change when EV’s deliver performance and experience, surpassing the current generation of IC engine bikes. This investment from TVS Motor Company and ZOHO Corp. is a validation of our endeavour to redefine the future of mobility.” 
 
“Since our inception, our goal has been to build a future-ready technology that serves as a game changer in the mobility ecosystem. And we believe the F77 will redefine the global perception of electric mobility. It is exciting to have investors who have doubled down to back us in our journey towards building cutting edge mobility solutions for global markets,” said Niraj Rajmohan, Founder and CTO, Ultraviolette Automotive Pvt. Ltd.
 
Ultraviolette has received over 50,000 booking interests for the F77 from across the world and will begin test rides and deliveries of the motorcycles in the first half of 2022.

About the F77

The F77 is India’s first high performance electric motorcycle built with principles used in the aviation industry. With an acceleration of 0-60 in 2.9 seconds, top speed of 140 kmph, and a range of 150 km on a single charge, the F77 is a smart and connected electric motorcycle that comes with remote diagnostics over-the-air (OTA) upgrades, regenerative braking, multiple ride modes, bike tracking, ride diagnostics and whole lot of other features. 

About Ultraviolette Automotive Pvt. Ltd.

Ultraviolette Automotive Pvt. Ltd., is an innovator in sustainable mobility and energy infrastructure. Established in 2016, Ultraviolette Automotive was founded by Narayan Subramaniam and Niraj Rajmohan. The company was born out of the unique vision of creating top-of-the-line mobility solutions, that’s driven by progressive design and energy efficient technology. Ultraviolette Automotive is developing India’s first ecosystem of high-performance electric vehicles and future-ready energy infrastructure. For more information, visit http://www.ultraviolette.com
 About TVS Motor Company

TVS Motor Company is a reputed two and three-wheeler manufacturer and is the flagship company of the USD 8.5 billion TVS Group. We believe in Championing Progress through Mobility. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We endeavour to deliver the most superior customer experience at all our touch points across 70 countries.  We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys for five years.  We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years.

For more information, please visit www.tvsmotor.com.

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Disclaimer: This Press Release has not been vetted or endorsed by The Eastern Herald's editorial staff.

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