Ultraviolette Raises Series D Investment From EXOR Capital

Electric vehicle manufacturer Ultraviolette Automotive Private Limited has announced that it has raised a fresh round of capital from a fund managed by European investor EXOR Capital. . This investment is part of an ongoing (Series D) round of funding, with EXOR Capital as the lead investor. With this investment, the fund now joins the cap table along with TVS Motor, Zoho Corporation, GoFrugal Technologies, Speciale Invest.

The company is getting ready to launch the Ultraviolette F77 electric motorcycle, and the fresh investment will be utilised towards expansion of the company’s presence across India, ramping up sales of the F77 in the country and subsequent expansion in international markets including trials, certifications and sales, the company said in a statement.

The F77 will have a top speed of 140 kmph and claimed range of 200 km on a single charge.

Also Read: Ultraviolette Conducts Test Rides Of F77 For Pilots From Aviation Community

EXOR Capital is a fully owned subsidiary of EXOR N.V. Exor is the single largest shareholder in Stellantis (STLA.MI) and has controlling stakes in companies including sports car maker Ferrari (RACE.MI), CNH Industrial (CNHI.MI), Iveco Group (IVG.MI), The Economist Group, Via and the soccer team Juventus (JUVE.MI).

Narayan Subramaniam, Co-founder & CEO, Utraviolette with a prototype of the F77 electric bike.

Commenting on the investment, Narayan Subramaniam, Co-Founder and CEO, Ultraviolette stated, “We are thrilled to have EXOR Capital as our investor and believe we have found the perfect partner in them given their multi-generational, entrepreneurial experience of working with some of the world’s most admired and loved brands. With this investment, we now have a diversified group of prominent Indian and international institutional investors backing us in our journey and vision of shaping a new era of mobility not just in India but in global markets as well.”

Nikhil Srinivasan, Managing Partner at EXOR Capital said, “Exor Capital has a strong interest in innovation and sustainability. We believe, Ultraviolette is an opportunity that covers both. We are delighted to work with the founders and respect their vision in the mobility space.”

The F77 will be a smart and connected performance-oriented electric bike, and will be launched in a couple of months from now.

Also Read: Ultraviolette F77 Electric Bike To Be Launched In 2022 With Upgrades

Niraj Rajmohan, Co-Founder and CTO, Ultraviolette, said, “The investment from Exor is a testament to our uncompromising ambition to redefine the future of mobility. We see perfect synergies and uniquely exciting opportunities of working together with Exor. We believe that their expertise in working with brands like Ferrari and Stellantis and building great companies will be integral in carving a distinct identity for Ultraviolette and the F77 across the world.”

Ultraviolette recently concluded its first test ride of the upcoming F77 electric bike with an elite group of pilots from the aviation industry to demonstrate the F77’s cutting edge specs and capabilities. In September 2022, the company is expected to roll out public test rides of the F77, followed by the commercial launch of the company’s first electric motorcycle later this year. According to Ultraviolette, the company has received over 65,000 pre-order interests for the F77 of which India, the USA and Europe represent a significant part of these numbers.

The Ultraviolette F77 will come with claimed acceleration of 0-60 kmph in 2.9 seconds, a top speed of 140 kmph and claimed maximum range of 200 km on a single charge. The smart and connected electric motorcycle will come with remote diagnostics, over-the-air updates, regenerative braking, multiple ride modes, and a whole lot of other features. Ultraviolette Automotive was established in 2016, founded by Narayan Subramaniam and Niraj Rajmohan.