Electric two-wheeler maker Ultraviolette Automotive is raising ₹373.04 crore as part of its ongoing Series E funding round, according to company filings accessed by inc42.com. The startup has allotted 8.15 lakh Series E3 compulsorily convertible preference shares (CCPS) worth ₹2,435 each, aggregating to ₹197.5 crore, and 7.24 lakh Series E4 CCPS netting ₹175.5 crore.
The funding round includes ₹249.2 crore raised from Yali Capital’s Yali Deeptech Fund I and TDK Ventures. TDK Ventures first invested in Ultraviolette in August 2025, leading a $21 million round, while Yali Capital is a new investor in the company. Angel investors such as Adi Hirji Jehangir, Anshumi Desai, Janak Desai, Mahak Khabia, and Zafar Ahmadullah are also participating. The startup confirmed the investments are part of an ongoing fundraise but declined further comment.
Ultraviolette’s latest round comes nearly a year after it raised $45 million in Series E funding from Zoho and Lingotto. The company has raised over $135 million to date from investors including TVS Motors, Qualcomm Ventures, Breathe Capital, and Mudhal Partners. The fresh capital will support the development of its manufacturing facility named BIGGA, which is currently under construction.
The new investment round underscores Ultraviolette’s continued expansion in the electric two-wheeler market. The company’s manufacturing facility BIGGA is progressing, aiming to boost production capacity. Ultraviolette’s total funding now exceeds $135 million, positioning it among the leading startups in India’s electric vehicle sector.