Tdk Backs Ultraviolette With $21m To Take India-made Electric Motorcycles Global

Two months ago, Indian electrical motorcycle startup Ultraviolette expanded into 10 European countries. Now, fueled pinch $21 cardinal successful an all-equity information led by nan firm task limb of Japanese electronics elephantine TDK Corporation, Ultraviolette is putting its description plans into overdrive.

The nine-year-old startup plans to turn its European footprint fourfold, participate different motorcycle-driven markets specified arsenic Latin America and Southeast Asia, and summation its portfolio to 14 models by early 2027. Ultraviolette’s world description follows nan 2024 motorboat of its F77 Mach 2 flagship exemplary and its 2nd product, nan F77 SuperStreet, successful February.

Behind Ultraviolette are 2 puerility friends — CEO Narayan Subramaniam and CTO Niraj Rajmohan — who mixed their expertise successful mechanical engineering, automotive design, machine science, and electronics to electrify nan mid-segment two-wheeler market.

The duo, which drew inspiration from Tesla, started Ultraviolette astatine a clip erstwhile India’s electrical two-wheeler marketplace was dominated by low-speed models, chiefly catering to commercialized and inferior needs. The early roar was driven by Chinese imports offering low-cost options, followed by a activity of homegrown startups and, much recently, bequest manufacturers entering nan space.

Instead of becoming conscionable different subordinate successful that race, nan Ultraviolette co-founders group retired to build electrical motorcycles that could lucifer nan capacity of 150cc to 800cc soul combustion motor sports bikes.

“We asked ourselves, if we person to make electrical breathtaking successful two-wheelers, what would it take? And that’s nan nonsubjective pinch which we started,” said Rajmohan (pictured above, right) successful an exclusive interview.

The Bengaluru-based startup took astir 4 years from its inception successful 2016 to unveil nan first exemplary successful 2019. The startup went done aggregate creation iterations earlier finalizing nan seventh type — hence nan sanction F77. The commercialized type debuted pinch a fixed artillery battalion to present complete 186 miles of scope and a apical velocity of 96 miles/hour pinch a 30kW highest powerfulness and up to 100 newton-meters of torque.

Ultraviolette has besides unveiled nan lightweight Shock Wave motorcycle arsenic good arsenic nan Tesseract scooter, which features beforehand and rear radars and cameras to alteration an assisted-driving acquisition and blindspot detection. The scooter costs ₹120,000 ($1,370), while its motorcycles (ex-showroom) person a guidelines value of ₹175,000 ($2,000) and goes up to $10,000.

Ultraviolette F77 Mach 2Image Credits:Ultraviolette

Ultraviolette’s vehicles travel equipped pinch eSIM connectivity and characteristic predictive attraction powered by a proprietary diagnostics system. Rajmohan said nan strategy tin observe moreover insignificant issues, specified arsenic erstwhile nan concatenation needs lubrication. The startup offers an app that provides each these insights to consumers connected nan go.

The institution has besides established a manufacturing and assembly installation successful Bengaluru’s Electronics City, pinch a capacity of 30,000 units. Today, nan institution handles everything in-house from processing embedded package and artillery guidance systems to centrifugal controllers and moreover artillery manufacturing. About 500 group activity astatine Ultraviolette, including 200 successful firm functions and R&D.

Ultraviolette’s business exemplary was shaped successful portion by Tesla owners. The co-founders spent clip talking to Tesla owners successful nan U.S., who were among nan first ones to bargain nan Model S successful 2015, to study what made nan that car different from different EVs of its time.

“These Tesla cars were very special, arsenic owning them was seen arsenic progressive. It was much of a manner statement,” Rajmohan told TechCrunch.

The co-founders brought that sentiment to Ultraviolette’s creation and branding, aiming to make it a world institution from time one. As Rajmohan explained, nan connection “violet” is pronounced likewise successful complete 30 European languages, while “ultra” signals thing cutting-edge. Reinforcing that ambition, nan startup pursued European certification for each its vehicles moreover earlier entering nan market.

This is dissimilar different Indian electrical two-wheeler manufacturers, which person tried to cater to section demand. India accounts for astir 40% of world motorcycle sales — though astir of those are powered by soul combustion engines.

Expanding beyond India makes strategical consciousness for Ultraviolette, fixed nan home EV marketplace remains comparatively underpenetrated — pinch take astatine conscionable 7.66%, compared to nan world mean of 16.48%, according to a recent report by government-backed deliberation vessel NITI Aayog. While India intends to scope 30% EV penetration by 2030, advancement truthful acold suggests that it whitethorn beryllium an eager target.

EV penetration Rate — Global and IndiaImage Credits:NITI Aayog

India is besides a price-sensitive market, wherever two-wheelers are typically not discretionary purchases, but basal and affordable modes of regular transportation. As a result, trading high-end variants astatine standard successful nan state could beryllium a situation for Ultraviolette — astatine slightest initially.

“We were very clear that what we’re doing is, we’re moving toward segments which are much cosmopolitan successful nature,” Rajmohan said.

What’s next?

Ultraviolette’s manufacturing works successful BengaluruImage Credits:Ultraviolette

Ultraviolette plans to grow nan capacity of its Bengaluru accumulation installation to up to 60,000 units and adhd a larger location to standard to astir 300,000 units by early adjacent year. Ultraviolette operates 20 stores crossed 20 Indian cities and plans to turn to astir 100 by March adjacent year. About 50 of those stores — 1 per metropolis — are expected to unfastened by nan festive play later this year.

Rajmohan told TechCrunch nan startup is moving connected expanding its European presence, wherever it has 40 dealers.

“Next twelvemonth is wherever nan scale-up happens successful Europe,” he said.

The startup besides plans to commencement its aviator successful Latin America and Southeast Asia adjacent twelvemonth and spell to markets including nan U.S. and Japan later.

Ultraviolette has sold much than 3,000 motorcycles successful India and has projected to waste up to 10,000 later this year. It has besides targeted complete $50 cardinal successful gross by nan extremity of this financial year. To date, it has raised astir $75 cardinal successful backing and counts Qualcomm Ventures, Exor, and TVS Motor among its different cardinal investors.