TDK supports Ultraviolette with $ 21 million to take electric motorcycles in India global

Two months ago, Ultraviolette expanded the start of Indian electric motorcycles to 10 European countries. Now, it is provided with $ 21 million in a tour of all shares led by the corporate project arm of the Giant TDK Japanese Electronics Company, Ultraviolette lays its expansion plans.

The nine -year -old start starting to develop the European fingerprint is four times, and the introduction of other motorcycle markets such as Latin America and Southeast Asia, and increasing its portfolio to 14 models by early 2027. The global expansion of Ultraviolette 2024 follows in February.

Behind Ultraviolette, there are two childhood friends-CEO SUBRAMANIAM and CTO Niraj Rajmohan-who collected their experience in mechanical engineering, auto design, computer science, and electronics to break the medium wheel market.

The duo, which was inspired by Tesla, Ultraviolette began at a time when low -speed models dominated low -speed models, mainly for commercial and benefit needs. The early boom was driven by Chinese imports that offer low -cost options, followed by a wave of local startups, and recently, old manufacturers entering the area.

Instead of becoming just another player in this race, the founders of Ultraviolette began building electric motorcycles that can coincide with the performance of internal sports bikes from 150 cm to 800 cm.

“We have asked ourselves, if we had to make electricity exciting in two wheels, what does it take? This is the goal that we started with,” said Rajjunhan (in the picture above) in an exclusive interview.

The start-up starting start of its four-year-old Bangaluru operating in 2016 to unveil the first model in 2019. The startup of multiple design repeated repetitions increased before the final touches on the seventh version-and from here came the name F77. The commercial version first appeared with a fixed battery package to provide more than 186 miles of range and a top speed of 96 mph with a peak force of 30 kW and up to 100 meters of torque.

Ultraviolette also unveiled a lightweight shock motorcycle as well as a TSSERACT motorcycle, which features radars and front and rear cameras to enable the experience of auxiliary driving and uncovering blind. The cost of motorcycles is $ 120,000 ($ 1,370), while their motorcycles (previous showroom) has a basic price of $ 175,000 ($ 2000) and reaches $ 10,000.

Ultraviolette vehicles are equipped with ESIM connection and are characterized by a support supported by a special diagnostic system. Rajjhan said that the system can discover even simple issues, such as when the series needs lubrication. The startup offers an application that provides all these ideas to consumers while moving.

The company also established an industrial and assembly facility in the electronics city of Bangaluru, with a capacity of 30,000 units. Today, the company deals with everything at home from developing compact software and batteries management systems to motor control units and even batteries manufacturing. About 500 people work in Ultraviolette, including 200 in companies’ jobs, research and development.

Ultraviolette business model has been partially formed by Tesla owners. The participating founders spent time speaking to Tesla owners in the United States, who were among the first to buy the S -style in 2015, to find out what made that car different from the other EVS in its time.

“These Tesla cars were very special, as it was progressively. It was more than the lifestyle statement,” Rajjhanan told Techcrunch.

The participating founders brought this feeling of Ultraviolette, with the aim of making it a global company from the first day. As Rajmohan explained, the word “Violet” is prolonged in more than 30 European languages, while “Ultra” indicates an advanced thing. Enhancing this ambition, the startup company followed the European certificate for all its cars even before entering the market.

This is unlike other Indian electric animal manufacturers, which tried to meet the local demand. India It represents approximately 40 % of global motorcycle sales Although most of these are supported by internal combustion engines.

Beyond India’s expansion is a logical matter for Ultraviolette, given that the local EV market is still suffering from a relatively decrease – with adoption by only 7.66 %, compared to the global average of 16.48 %, according to Modern report Through the government -backed intellectual tank, Niti Ayog. While India aims to reach a 30 % penetration by 2030, progress so far indicates that it may be an ambitious goal.

India is also a market sensitive market, as wheels are usually not appreciated, but they are basic methods and affordable prices for daily transport. As a result, selling advanced variables may be a challenge to Ultraviolette-at least at least.

“We were very clear that what we are doing is, we are working on more universal slices in nature,” said Rajjhanan.

What next?

Ultraviolette plans to expand the ability of the Bangaluru production facility to up to 60,000 units and add a larger location to expand its range to about 300,000 units by early next year. Ultraviolette runs 20 stores in 20 Indian cities and plans to grow to about 100 by March next year. About 50 of these stores – one for each city – is expected to open the celebration season later this year.

Rajmohan Techcrunch told the young people to expand its European presence, as it includes 40 merchants.

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

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

Ultraviolette has sold more than 3000 motorcycles in India and is expected to sell up to 10,000 later this year. It has also targeted more than $ 50 million of revenue by the end of this fiscal year. To date, it raised about $ 75 million of financing and concerns Qualcomm Ventures, Exor and TVs Motor from other major investors.