India-based electric motorcycle maker Ultraviolette has raised $45 million from Zoho Corporation and Lingotto Ventures, a venture capital fund owned by Italy's Exor NV.
The company will use the funds to expand production of its F77 and X-47 models, as well as accelerate R&D for its new products Shockwave and Tesseract.
Ultraviolette currently operates in 30 cities in India and plans to expand to 100 cities by mid-2026. This year, the company launched the F77 in the UK and is now operating in 12 countries.
The company sold about 1,168 electric motorcycles in 2025. In the fiscal year ending March 2025, it reported revenue of Rs 36.1 crore ($4 million) and a net loss of Rs 116.3 crore ($12.9 million).
Other investors in Ultraviolette include TVS Motor, Qualcomm Ventures, TDK Ventures and Speciale Invest.
Zoho Corporation is an Indian-based, global software company. The company is known for its cloud-based business solutions and offers over 55 SaaS applications spanning CRM, office applications, project management, accounting, HR and hundreds of other products.
