TDK backs Ultraviolette with $21M to take India-made electric motorcycles global

Two months ago, the Indian electric motorcycle startup ultraviolet expanded 10 European countries. Now, the Japanese Electronics Giant TDK has overdrive fuel, Ultraviolet, with $ 21 million in an all-equity round led by the corporate vencity arm of the corporation.

The nine-year-old startup plans to enhance its European footprint fourfold, to enter the motorcycle-driven markets like Latin America and Southeast Asia, and to upgrade its portfolio in early 2027.

There are two childhood friends behind Ultraviolet-CEO Narayan Subramanium and CTO Niraj Rajmohan-those who combined their skills in mechanical engineering, automobile design, computer science and electronics to electrify the middle-class bioche market.

The pair, who inspired Tesla, started ultraviolet at a time when India’s electronic bilateral markets were dominated by short-progressive models, mainly met commercial and utility needs. The starting boom was driven by Chinese imports by providing low -priced options, then a wave of homegrown startups and more recently, inheritance manufacturers entered the place.

Instead of being another player in this race, Ultraviolet co-founder traveled to create electric motorcycles that match the 800cc internal combustion engine sports bike with 150cc performance.

“We have asked ourselves, if we have to make electric exciting in the two-chakas, what will it take? And this is what we started with,” said in the exclusive interview with Rajmohan (illustrated above).

The Bangladesh-based startup took about four years from established in 2016 to unveil the first model in 2019, The Startup went through the repetition of multiple designs before finalizing the seventh version-the name F77. The commercial version debuted with a steady battery pack over 186 miles of range of more than 186 miles and up to 30 kW pick power and up to 100 with 96 miles/hour top speed with Newton-Miter Torque.

Ultraviolet Lightweight Shock Wave has also unveiled the Tesaract scooter, which features the front and rear radar and camera to enable a support-driving experience and blindspot detection. Scooter priced ₹ 120,000 ($ 1,370), when its motorcycles (ex -showroom) have the original value ₹ 175,000 ($ 2,000) and $ 10,000.

Ultraviolet vehicles are equipped with ESIM connections and are featured proprietary maintenance driven by a owned diagnostics system. Rajamohan said that the system could even detect minor problems, such as lubrication of the chain. Startup provides an app that provides all these insights to customers to go.

The company has also established a production and assembly facility in Bengaluru’s Electronics City with a capacity of 5 units. Today, the company manages the software and battery management systems that operates everything, starting from the development of motor regulators and even battery production. About 500 people, including 200 in corporate functions and research and development, work in ultraviolet.

The business model of Ultravoylet was shaped by Tesla owners in the section. The co-founder spent time talking to Tesla owners in the United States, who was among the first people who buy Model S on the 21st, to learn what made the car different from the other EVS of his time.

“These Tesla cars were very special because their ownership was seen as progressive. It was a statement of life,” said Rajmohan TechCrunch.

Co-founders brought that feeling to Ultravoylett’s design and branding, noticed that it was a global company from the very first day. As Rajamohan explains, the term “viollet” in more than 30 European language is pronounced similarly, while “Ultra” signals to some cutting edges. By strengthening that ambition, the startup followed the European certificate for all its vehicles before entering the market.

It is not like other Indian electronic bilateral manufacturers, which have tried to meet local needs. India For about 40% of the sale of global motorcycles – Although most of its internal combustion is powered by the engine.

By creating a strategic concept for ultraviolets that extend outside India, the domestic EV market is relatively small – which is only with the global average of 16.5%. Recent report By the government-backed Think Tank Nighty. Although India aims to reach 30% EV entrance by 2030, progress still suggests that it can be an ambitious goal.

India is also a price-sensitive market, where two-wheeler people are usually not prudent purchasing, but the necessary and affordable method of daily transport. As a result, selling high-surface variants on a scale in the country can be a challenge for ultraviolet-initially.

“We were very clear that we were doing what we were doing, we were working towards categories that were more universal in nature,” said Rajmohan.

What is then?

Ultraviolet is planned to extend its ability to produce its Bengaluru up to 60,7 units and to add a larger position to scale around 300,000 units early next year. Ultraviolet operates 20 stores across 20 Indian cities and plans to grow up to about 100 by March next year. About 50 in this city – the end of this year is expected to open the festival season.

Rajamohan told TechCrunch that the startup was working to expand its European presence, where it has 40 businessmen.

“The next year is where the scale-up is in Europe,” he said.

Startup is planned to start its pilots in Latin America and Southeast Asia next year and later to the market, including the United States and Japan.

Ultraviolet has sold more than 3,000 motorcycles in India and assumed selling up to 10,000 later this year. It noticed the revenue of more than $ 50 million in the end of this fiscal year. To today, it has raised about $ 75 million funding and has counted Qualcomm Ventures, Axor and TVS motors among its other main investors.