A tech startup which is based out of Bengaluru-based, which provides the electric mobility solutions provider Ultraviolette Automotive Pvt Ltd has today announced in a news that the company has revealed that they have got the additional investment of ₹ 6 crore from TVS Motor Company.
As of now the company, is building the electric motorcycles that is said to outperform some of the more traditional internal combustion engine motorcycles in the engine segment of 200-250 cc. in a press statement which is released by the Ultraviolette stated that the investment which the company has raised is going to be used for the continued product engineering and further expansion of the company’s core Research and Development team and facility.
“At TVS Motor Company, we are highly committed to creating different type of offerings with the best-in-class quality, cutting-edge technology and that delights the customer. According to the company officials it has been said that as a responsible manufacturer, we see immense promise in Ultraviolette Automotive’s vision of bringing innovative and sustainable electric vehicles in India. Ultraviolette Automotive has made significant progress in their product engineering in a short span of time and we are confident that they will build a product that will pave the way for electric mobility in the country,” said K Gopaladesikan, CFO, TVS Motor Company.
Ultraviolette Automotive was founded in the year 2016 by Narayan Subramaniam and Niraj Rajmohan. The company was established with the vision of creating top-of-the line mobility solutions, which is totally driven by progressive design and energy efficient technology. With the help of its Series A funding from TVS Motor Company, the startup is going to develop India’s first ecosystem of high performance electric motorcycles and future-ready energy infrastructure.
In the year December 2017, TVS Motor Company bought a total stake of 14.78 per cent in Ultraviolette Automotive Pvt Ltd. The company as of now has also been testing the electric two-wheeler prototypes, battery packs and some of the more offering in the electric vehicles.