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

Indian electric motorcycle startup Ultraviolette raised $21M led by TDK Corporation to expand its model lineup and global presence after entering 10 European countries. The company plans to quadruple its European footprint, target Latin America and Southeast Asia, and launch 14 new models by 2027, driven by CEO Narayan Subramaniam and CTO Niraj Rajmohan's vision to electrify the two-wheeler market with performance-driven designs.

Key points

  • Ultraviolette received $21 million in equity funding from TDK Corporation.
  • The startup aims to increase its European market reach fourfold and enter new markets in Latin America and Southeast Asia.
  • Ultraviolette plans to launch 14 different motorcycle models by early 2027.
  • The F77 Mach 2 flagship model and F77 SuperStreet motorcycle are set to launch in 2024.
  • Company was founded by Narayan Subramaniam and Niraj Rajmohan, who wanted to create high-performance electric motorcycles.
  • Their production facility in Bengaluru has a current capacity of 30,000 units, aiming to expand to 300,000 units.
  • Ultraviolette's business model focuses on global markets, diverging from many competitors targeting local Indian consumers.

Why it matters

  • In 2025, the electric motorcycle market is expected to grow rapidly, as consumer interest in sustainable transportation increases.
  • Ultraviolette's approach mirrors Tesla's strategy of breaking into higher-end markets while maintaining a global outlook.
  • The company's focus on performance aligns with the growing trend of technologically advanced electric vehicles globally.

Ultraviolette's significant funding and aggressive expansion plans highlight the increasing shift towards electric vehicles, positioning it as a major player in the competitive global market for two-wheelers.