Ultraviolette Automotive Private Limited has announced that it has raised a new round of capital in its Series C funding, led by TVS Motor Company. Zoho Corporation, a technology company best known for making web-based business tools, has joined this round along with TVS Motor. TVS Motor Company, which has been an early backer and investor in Utraviolette, has led the investment in this round. Ultraviolette, which is setting-up its manufacturing and assembling facility in Electronics City, Bengaluru, will utilise this investment towards the production and commercial launch of its high-performance electric motorcycle, the F77, the company said in a statement. The first batch of the F77 will be rolled out in the first half of 2022, the company announced.
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The Ultraviolette F77 will have a dedicated charging network, starting with Bengaluru, followed by other cities
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.''
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The Ultraviolette F77 has a steel trellis frame and has a kerb weight of 157 kg
Sridhar Vembu, Founder and CEO, Zoho Corporation who participated in the Series C investment added, ''What impressed me most about Ultraviolette is their approach towards building the EV experience in the country - one that is focused on high performance, disruptive design and technology, and superior user experience, all built and developed right here in India. There is no doubt that the future of mobility is electric, and innovation has to be at the forefront of product disruption. This approach by Ultraviolette will position India to be a leader in the global EV ecosystem. I am thrilled to support Ultraviolette's goal towards revolutionizing the mobility landscape globally, and I look forward to the launch of the F77 in the months ahead."
Also Read: Ultraviolette F77 Electric Motorcycle Unveiled
A TFT screen on the Ultraviolette F77 offers smartphone connectivity, remote diagnostics and a long list of features
Ultraviolette has announced that the company 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."
According to the company, 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. The F77 is India's first high-performance electric motorcycle with a 0-60 kmph claimed acceleration timing of 2.9 seconds, and a top speed of 140 kmph. With a claimed range of 150 km, the F77 is a smart and connected electric motorcycle with remote diagnostics, over-the-air (OTA) updates, regenerative braking, multiple ride modes, bike tracking, ride diagnostics and several other features.
