Ultraviolette Started Deliveries of F77: Raising Capital to Accelerate Growth

CalenderPublished at February 28, 2023 by BikeJunction
Ultraviolette Started Deliveries of F77: Raising Capital to Accelerate Growth

There are three variants of the Ultraviolette F77, namely Airstrike, Shadow, and Laser. Each represents distinct features. Additionally, there are two versions of each variant, namely the F77 and the F77 Recon, with respective IDC ranges of 206 km and 307 km.

Ultraviolette Automotive Pvt. Ltd, a pioneer in eco-friendly transportation, has initiated the delivery of its F77 electric bike. This e-bike is priced at Rs. 3.8 lakh. Further, the bike will be delivered from its production facility in Bengaluru to customers. 

Narayan Subramaniam, Co-founder and CEO of Ultraviolette, expressed, "The F77 is a result of our pursuit of creating an electric motorcycle that is a head-turner across all parameters. Its design and performance are one-of-a-kind and proudly Indian in every aspect.

We cannot wait for customers across India to experience the F77, and we are deeply committed to taking the brand global. We are confident that our vehicles will exceed our customers' expectations and that we will continue to drive innovation in the electric vehicle space."

As Ultraviolette begins delivering its electric motorcycles, the company is focusing on expanding its reach both domestically and globally. The company is establishing a network of dealerships across the country. It will help in facilitating customers with purchases and maintenance. 

Additionally, Ultraviolette is actively pursuing its expansion into new international markets. The company took this step because of an increasing demand for high-performance electric motorcycles.

In preparation for the upcoming phase of growth, Ultraviolette has revealed its intention to secure USD 120 million in a new investment round. These steps and proceedings will be utilised to drive the company's worldwide expansion initiatives. Further, it will help to bolster its ongoing vehicle platform development endeavours.

Having secured more than USD 55 million since its inception, Ultraviolette has attracted participation from prominent investment firms. These investors include EXOR Capital from Europe, Qualcomm Ventures from the US, TVS Motor Company, Zoho Corp., GoFrugal Technologies, and Speciale Invest. 

Niraj Rajmohan, co-founder and CTO of Ultraviolette, remarked that their investors share the same vision for the future of transportation. He emphasised the importance of continuing to look forward and striving towards the next phase of growth. Especially with the delivery of F77 underway.

He further added, "The support of partners who share our vision will enable Ultraviolette to expand our domestic presence, scale new vehicle programs, and expedite our international product rollout." 

According to the company, F77 is the fastest, technologically advanced, and visually striking electric two-wheeler on the roads of India currently. 

This motorcycle is conceptualised, designed, and manufactured entirely in India. The completely indigenous manufacturing of Ultraviolette F77 sets a new benchmark for research and development of two-wheelers in the country. Further, it surpasses all expectations in terms of its design and performance.

In January, Ultraviolette introduced the F99 Factory Racing Platform to the public at the Auto Expo 2023. It was the first occasion for marking the company's entry into electric motorsports. 

The unveiling of both F77 and F99 demonstrates Ultraviolette's capability to design and develop EV platforms that could meet or surpass international standards. Further fueling the company's eagerness to soon expand the brand into global markets. The company expressed its pride in this accomplishment.

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