E-motorcycle company Ultraviolette raises $45 milion

BENGALURU: Electric motorcycle maker Ultraviolette raised $45 million in fresh growth capital from Zoho Corporation and European investment firm Lingotto as part of its ongoing series E round. The company said the funding will be used to scale production and sales of its flagship F77 electric sportbike and the new X-47 crossover, as well as to develop upcoming platforms codenamed Shockwave and Tesseract.The investment from Zoho was led by Sridhar Vembu, along with Mani and Kumar Vembu, noting growing domestic tech-founder backing for the EV ecosystem. Lingotto adds to a global investor list that includes TVS Motor, Qualcomm Ventures, and TDK Ventures. Ultraviolette expanded from zero to 30 cities in India over the past 12 month.