Bangalore-based startup company Ultraviolette has received new funding recently. TVS made some fresh investments in the last round of series C funding. TVS Motor Company has been an early backer of Ultraviolette company and now it is joined by Zoho Corporation in the funding round. Through this funding TVS aims to support Ultraviolette’s vision of developing high-performance mobility solutions for the Indian and global markets, the company said in a regulatory filing.
Sudarshan Venu company’s Joint Managing Director said, “EVs are a huge focus area for us and we have invested in this area for over a decade. We have always believed that EV development has to be ground-up for us to make that quantum leap into the global EV revolution.” Narayan Subramaniam Ultraviolette’s founder and CEO said,” This investment from TVS Motor Company and ZOHO Corp. is a validation of the company’s endeavor to redefine the future of mobility.”The company will start a manufacturing and assembly plant that is Spread over 70,000 square feet, the facility located in the vicinity of Electronics City will manufacture 15,000 Electric Motorcycles in the first year, and will rapidly scale up to an annual capacity of 120,000 units.
Ultraviolette will also provide job opportunities to local communities within the region, with over 500 employees being trained on electric vehicle manufacturing and assembly over the next 5 years. Speaking about the facility, Narayan Subramaniam, Founder and CEO, Ultraviolette, said, “This is an important milestone for us in our journey towards building a superior EV experience for India and International markets. We chose this location given its strategic proximity to our R&D facility in Bengaluru as well as a strong supply-chain ecosystem in and around the region. We have received an overwhelming response for the F77 and this facility will help us cater to that demand over the next few years. Most importantly, the F77 has been designed and built indigenously and over 90% of the vehicle including the battery packs, will be manufactured using locally sourced components.”
Ultraviolette F77: A quick recap
The F77 is a high-tech, high-performance motorcycle built with principles used in the aviation industry. With an acceleration of 0-60 in 2.9 seconds, top speed of 140 km/h, and a range of 150 km on a single charge, the F77 is a smart and connected electric motorcycle that comes with remote diagnostics over-the-air (OTA) upgrades, regenerative braking, multiple ride modes, bike track, ride diagnostics and a whole lot of other features.
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