Ultraviolette Automotive raises Series D round of funding ahead of F77 launch
Ultraviolette Automotive, the maker of F77 performance electric motorcycle, has raised a fresh round of Series D funding from a fund managed by EXOR Capital. The company aims to use this investment towards expansion of its presence across India, in ramping up sales of the F77 motorcycle as well as subsequent expansion in international markets including trials, certifications and sales.
With this investment, EXOR Capital joins the cap table along with TVS Motor, Zoho Corporation, GoFrugal Technologies, Speciale Invest. EXOR Capital is a fully owned subsidiary of EXOR NV and also the single largest shareholder in Stellantis and also has controlling stakes in companies including sports car maker Ferrari. “The investment from Exor is a testament to our uncompromising ambition to redefine the future of mobility," said Niraj Rajmohan, Co-Founder and CTO, Ultraviolette.
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Ultraviolette recently concluded its first public test ride with an elite group of pilots from the aviation community. The event was held at TAAL (Taneja Aerospace and Aviation Ltd.) airfield on India's 75th Independence Day. Some members of the Indian aremd forces were present at the event and they also test-rode the production-spec version of the F77 electric motorcycle.
The motorcycle has been under development for the past two years, it is being aimed toward the enthusiasts. The company will roll out the public test rides beginning September 2022 and will commercially launch the F77 in India this year.
The motorcycle has already received over 65,000 pre order interests of which India, the USA, and Europe represent a significant part of these numbers. The bike can accelerate from 0-60 kmph in 2.9 seconds and gets a top speed of 140 kmph. It has a range of over 200 km on a single charge and it comes as a smart and connected electric motorcycle with remote diagnostics, over-the-air (OTA) upgrades, regenerative braking, multiple ride modes, and bike tracking.