Ultraviolette Automotive gets series B investment from TVS Motor
Sep 03, 2020
Bengaluru (Karnataka) [India], September 3 : Ultraviolette Automotive has received an additional investment of Rs 30 crore from TVS Motor Company after the nationwide unveiling of its high-performance motorcycle F77.
This investment is part of its latest round (series B) of funding. Manu Saxena, Vice President for future mobility and dealer transformation at TVS Motor, said Ultraviolette Automotive continues to demonstrate excellent engineering and technological capabilities besides innovativeness in developing high-performance electric motorcycle.
"TVS Motor is excited to see the progress and developments made by the UV team and we are confident that these actions will go a long way towards establishing a greener future for India," he said.
Narayan Subramaniam, Founder and CEO of Ultraviolette Automotive, said there have been significant advancements in the transportation and mobility industry globally with an increased demand for personal mobility in recent times.
"We also see rapid growth in the Indian two-wheeler industry with a special focus on the electric vehicles, and it is in this context that we set out to create the F77 -- India's first high-performance motorcycle," he said.
The F77 is high-end technology and a high performance-oriented motorcycle built with principles used in aviation industry -- right from advanced engineering simulations, multi-level safety systems to design identity.
It is a smart and connected electric motorcycle that comes with remote diagnostics over-the-air upgrades, regenerative braking, multiple ride modes, bike tracking, ride diagnostics and other features.
The Ultraviolette F77 will first be rolled out next year with expanding national availability planned in phases.
