Electric two-wheeler maker Ultraviolette Automotive is set to raise ₹373.04 crore as part of its ongoing Series E funding round, according to MCA filings accessed by Inc42.com. The startup 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. This funding supports the development of its manufacturing facility, Bigga.
The investments come from new and existing investors including Yali Capital’s Yali Deeptech Fund I and TDK Ventures, which has backed Ultraviolette since August 2025 when it led a $21 million round. Yali Capital is a new addition to the startup’s cap table. Angel investors such as Adi Hirji Jehangir, Anshumi Desai, Janak Desai, Mahak Khabia, and Zafar Ahmadullah also participated. Ultraviolette confirmed the ongoing nature of the fundraise but did not provide further details.
This funding round follows a $45 million Series E raise nearly a year ago involving Zoho and Lingotto. Ultraviolette has raised over $135 million to date from investors including TVS Motors, Qualcomm Ventures, Breathe Capital, and Mudhal Partners. The fresh capital injection aligns with the company’s efforts to expand manufacturing capacity amid growing demand in the electric two-wheeler sector, which is attracting increased investor interest.
Ultraviolette’s manufacturing facility, Bigga, is currently under development. The company has raised ₹249.2 crore from Yali Capital and TDK Ventures in this round. The next update on the fundraise or facility progress is awaited as the startup continues to scale production capabilities.
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