New Delhi, Dec. 4 -- Electric vehicle maker Ultraviolette has raised $45 million (Rs 404 crore) as part of its ongoing Series E round from domestic software company Zoho Corporation and European investment management firm Lingotto.

The investment from Zoho was led by Sridhar Vembu, Mani Vembu, and Kumar Vembu

"Lingotto's legacy of backing iconic performance and mobility brands, combined with Zoho's long-term commitment to fostering cutting-edge Indian innovation, aligns perfectly with Ultraviolette's mission to build category-defining electric mobility solutions for India and global markets," said Narayan Subramaniam, co-founder and chief executive of Ultraviolette.

The development comes months after the Bengaluru-based company raised $21 million (Rs 184 crore) in August led by Japanese venture capital firm TDK Ventures, the VC arm of electronics maker TDK Corporation.

Over the past year, the company has expanded its retail footprint to 30 cities across India and plans to scale to over 100 cities by mid-2026. It has also been ramping up manufacturing, accelerating research, expanding its distribution network, and bringing its product portfolio to global markets.

"With the ongoing Series E investments, we are doubling down on growth and expanding our production to meet increasing demand," said Niraj Rajmohan, CTO and co-founder, Ultraviolette. "Our focus is on advancing breakthrough battery technology, elevating performance capabilities and expanding production to support upcoming product platforms. This investment will accelerate our journey towards scaling into India and global markets," he added.

Founded in 2016 by Subramaniam and Rajmohan, Ultraviolette makes electric two-wheelers and mobility infrastructure for electric vehicles. Its products include the F77 Mach 2, F77 SuperStreet, Tesseract, Shockwave, and a UV racing platform. The company competes with Oben Electric, Ola Electric, and Ather Energy in the two-wheeler electric vehicles space.

Published by HT Digital Content Services with permission from VC Circle.