Electric motorcycle maker Ultraviolette, based in Bengaluru, just got $21 million in funding. TDK Ventures, from Japan’s TDK Corporation, led the round. This shows investors are liking the high-end electric two-wheeler area in India. It also puts Ultraviolette up there with India’s fastest-growing direct-to-consumer (D2C) brands.
Zoho Corporation and Lingotto (previously Exor Capital) also put money in, along with people like Sriharsha Majety from Swiggy, Ankit Nagori from Curefoods, Aprameya Radhakrishna from TaxiForSure, and actor Dulquer Salmaan. Their support brings not just money but also advice and D2C investing ideas, which will help Ultraviolette grow faster in India’s competitive D2C space.
Narayan Subramaniam and Niraj Rajmohan started Ultraviolette, aiming for a high-end D2C electronics and product brand that puts performance first. Their motorcycles are for riders in India and other countries who want something special. The bikes have great batteries, tech, and aerodynamics that are as good as anything else out there. The new money will help the company ramp up its D2C plans by increasing manufacturing, creating better batteries, and growing its retail locations from 20 to over 100 cities in India. They also plan to expand to other countries, which matches the D2C market direction of Indian brands looking to compete globally.
Ultraviolette has raised a total of about $79 million from venture capital, private equity, and investors like TVS Motors and Mudhal Partners. They’re part of the trend of new D2C companies in India that are selling directly to consumers to bypass traditional dealerships and provide a better buying and service experience.
In fiscal year 2024, Ultraviolette’s operating income jumped to ₹15 crore from ₹8.7 crore in fiscal year 2023. This shows D2C income is growing, even though the EV business requires a lot of capital. Losses for the same period were ₹61.6 crore, as they invested heavily in R&D, manufacturing, and market growth. They sold 543 vehicles last year and compete with companies like Tork Motors, Revolt Motors, and Ola Electric’s Roadster.
With the world moving toward sustainability and India shifting to cleaner transportation, Ultraviolette is a good example of D2C supply chain and high-end positioning. With solid funding, a clear D2C plan, and cutting-edge design, they could lead India’s change from basic EVs to performance-focused ones. This funding round might also set the stage for a D2C IPO in the future, which would solidify Ultraviolette as a leader in Indian and global D2C news.
