Bengaluru EV maker Ultraviolette has raised $85 million in a round led by Yali Capital and TDK Ventures, announced September 23. Lip-Bu Tan, chairman of Walden International, and existing investors joined too.

The money will scale production of the F77 and X-47 electric bikes, bring the Tesseract scooter and Shockwave motorcycle to market, and fund next-generation EV platforms, CEO Narayan Subramaniam said.

That takes Ultraviolette's disclosed fundraising since August 2025 to $151 million, following $66 million raised earlier in its ongoing Series E. The company has announced a new factory with capacity of up to 500,000 units a year and aims to hit monthly sales of 1,000 units by the end of 2026, ahead of a planned IPO.

Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, the company sells in India and 20 European countries. International sales make up about 15 per cent of volumes and 20 per cent of revenue, CTO Niraj Rajmohan said, adding the share could rise toward 25 per cent.

The company plans to enter the United States in 2027 and expand across Latin America and Southeast Asia.