Two months ago, the start of Indian electric motorcycle Ultraviolet extended to 10 European countries. Now, which is powered by $ 21 million in a round of all shares, led by Japanese Electronic Electronic Business Business Business Business Arm, Ultraviolette puts its plans to expand to Overdrive.
The 9 -year -old launch plans to increase his European footprint four times, to enter other motorcycle markets, such as Latin America and Southeast Asia and the increase in its portfolio to 14 models by the beginning of 2027.
Behind Ultraviolette are two childhood friends-Managing Director Narayan Subramaniam and CTO Niraj Rajmohan-who combine their know-how in engineering, car design, computer science and electronics for the middle class electric market.
The twin, which inspired Tesla, started Ultraviolette at a time when the India’s two -speed electric market is dominated by low -speed models, mainly for commercial and utility. The early explosion was led by Chinese imports that offer low cost options, followed by a wave of domestic newly established businesses and, more recently, inheritance manufacturers entering the site.
Instead of simply becoming another player in this match, co -founders Ultraviolette started making electric motorcycles that could match the 150cc performance on 800cc internal combustion engine bikes.
“We asked ourselves, if we need to make an electrical exciting on two wheels, what would he need? And that is the goal we started with,” Rajmohan (shown above, right) said in an exclusive interview.
Bangalore-based launch took about four years since its founding in 2016 to reveal the first model in 2019. The commercial version made its fixed battery debut to deliver more than 186 miles of range and a maximum speed of 96 miles/hour with 30kw Peak Power and 100 Newton.
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Ultraviolette has also revealed the lightweight impact motorcycle as well as the Tesseract scooter, which features front and rear radar and cameras to allow an auxiliary driving experience and blind detection. The scooter costs ₹ $ 145,000 ($ 1,650), while its ex-showrooms have a basic price of 175,000 ($ 2,000) and reach $ 10,000.
Ultraviolette vehicles are equipped with ESIM connectivity and have prediction maintenance powered by a privately owned diagnostic system. Rajmohan said the system can even detect small issues, such as when the chain needs lubrication. The start offers an application that provides all this knowledge to consumers on the go.
The company has also set up a production and assembly unit in the city of Bangalore, with a capacity of 30,000 units. Today, the company is handling everything at home, from the development of built -in software and battery management systems in engine controllers and even battery construction. About 500 people work in Ultraviolette, including 200 in corporate functions and R&D.
The Ultraviolette business model was partially shaped by Tesla owners. The co -founders spent time talking to Tesla’s owners in the US, who were one of the first to buy the S model in 2015, to find out what this car did different from other UNs of its time.
“These Tesla cars were very special, as their possession was considered as progressive. It was more of a lifestyle statement,” Rajmohan told TechCrunch.
The co -founders brought this feeling to the design and branding of Ultraviolette, with the aim of making it a global company from day one. As Rajmohan explained, the word “Violet” is similarly pronounced in more than 30 European languages, while “Ultra” marks something peak. By enhancing this ambition, the start followed European certification for all its vehicles even before it entered the market.
This is, in contrast to other Indian two -wheel electric manufacturers who have tried to meet local demand. India represents almost 40% of world motorcycle sales – Although most of them are powered by internal combustion engines.
Extension beyond India has a strategic logic for Ultraviolette, as the EV domestic market remains relatively undervalued – with adoption in just 7.66%, compared to the global average of 16.48%, according to one recent report by the Government of Think Tank Niti Aayog. While India aims to reach 30% of EV penetration by 2030, progress so far suggests that it can be an ambitious goal.
India is also a sensitive market price, where the two wheels are usually not discreet markets, but substantial and affordable ways of daily transportation. As a result, the sale of high-level variants on a scale in the country could be a challenge for Ultraviolette-at least initially.
“We were very clear that what we are doing is, we are working on sections that are more universal in nature,” Rajmohan said.
What will follow?
Ultraviolette plans to expand the ability to install Bengaluru to 60,000 units and add a larger location to a scale to about 300,000 units until the beginning of next year. Ultraviolette has 20 stores in 20 Indian cities and plans to grow to about 100 by March of the following year. About 50 of these stores – one per city – is expected to open from the festive season later this year.
Rajmohan told TechCrunch that the start is working to expand his European presence, where he has 40 delegates.
“The next year is where escalation in Europe occurs,” he said.
The start also plans to start its pilot in Latin America and Southeast Asia next year and go to markets, including the US and Japan later.
Ultraviolette has sold more than 3,000 motorcycles in India and has predicted to sell up to 10,000 later this year. It has also targeted more than $ 50 million in revenue by the end of this financial year.
The new funding has seen the participation from Zoho Corporation and Lingotto (previously exor capital) investors. To date, it has raised about $ 75 million in funding and counts Qualcomm Ventures, Exor and Tvs Motor among other key investors.
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