On Monday, Ultraviolette Automotive (1), a Bengaluru-based startup, declared that it had secured an undisclosed amount of funding as part of its ongoing Series B fundraise. Kumar Vembu, the CEO of GoFrugal Technologies, led the latest infusions.
Notably, Kumar was an early investor in the company during its Series A funding round. Along with GoFrugal, TVS Motors also participated in the ongoing fundraising to support and motivate the vision of Ultraviolette Automotive to transform the future of electric mobility in India.
Earlier in September 2020, the startup had secured 30 Crore INR by leading two-wheeler and three-wheeler manufacturing company TVS Motors as part of its ongoing Series B funding round.
Narayan and Niraj Rajmohan, the founders of Ultraviolette Automotive, started the company in 2017. They offer EVs for the European markets.
Ultraviolette Automotive to Transform Personal Mobility Sector with its Disruptive Products and Services
While commenting on the latest infusions, the CEO of GoFrugal Technologies, Kumar Vembu, stated that India is moving towards smarter and sustainable transportation solutions. And Ultraviolette Automotive plays a crucial role in shaping EVs’ perception and driving its adoption in India.
He added that their F77 is an evocative and compelling alternative for Indian consumers. Notably, since the vehicle’s unveiling, the startup has made significant progress in launching the motorcycle in the market.
The company stated that its F77, a maiden mobility solution is an inherently powerful, intelligent, and efficient vehicle. Furthermore, it is integrated with revolutionary design and technology. While speaking about the development, Narayan Subramaniam, the founder and CEO of Ultraviolette Automotive Pvt. Ltd stated that they aim to create a visible and tangible impact in the personal mobility industry. Their team is developing solutions and products that are technologically disruptive, indigenously built, and reflects the unlimited innovative potential across design engineering.
Naryan further added that their goal is to help the country and the world and influence them towards a smarter and more energy-efficient future in due time. The team would continue to push its boundaries to do so. Moreover, the investment from Kumar Vembu comes at a great time. The team is working on launching its motorcycle in the market. Ultraviolette Automotive is looking forward to having a long-term association with him.