Ultraviolette, a Bengaluru-based innovator in future-ready electric vehicle platforms and battery technology, plans to raise $100 million in funding. Niraj Rajmohan, CTO and co-founder of Ultraviolette, revealed that the company is in the final stages of discussions with private equity investors. This latest funding round is expected to be completed within the next six months, adding to the $55 million Ultraviolette has already secured from investors like TVS Motor Company, EXOR Capital, Qualcomm Ventures, Zoho, Gofrugal Tech, and Speciale Invest.
Along with the funding announcement, Ultraviolette also unveiled the F77 MACH 2, an ‘advanced performance and intelligent electric motorcycle.’ The product is available in three categories: F77 MACH 2 AIRSTRIKE, F77 MACH 2 LASER, and F77 MACH 2 SHADOW, with a range of color options. The Ultraviolette F77 Mach 2 is priced at ₹2,99,000 for the first 1,000 customers, while the higher-range F77 Mach 2 Recon has an introductory price of ₹3,99,000.
Ultraviolette aims to capture a significant share of the ‘aspirational’ bike segment in India, which accounts for over 80,000 sales per month out of the total 12-14 million motorcycles sold annually. The company targets to sell 5,000 units of F77 MACH 2 bikes in FY24 and 30,000 units the following year. The Ultraviolette F77 Mach 2 will initially be available in 15 cities, with deliveries commencing in May 2024.
The Ultraviolette F77 Mach 2 boasts an impressive range of 323 km (Indian Driving Condition) and is powered by a 10.3 kWh battery pack. It delivers 30 kW (40.2 hp) and 100 Nm of peak torque, accelerating from 0 to 60 km/h in just 2.8 seconds and reaching a top speed of 155 km/h. Depending on the riding modes, the bike offers a ‘true range’ of 180 to 260-270 kilometers.
