Ultraviolette’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: Ultraviolette Automotive Private Limited | CIN: U34102KA2015PTC084804
Founded in 2016 by Narayan Subramaniam and Niraj Rajmohan, Ultraviolette Automotive is an Indian electric mobility startup that designs and manufactures high-performance electric motorcycles. Headquartered in Bengaluru, the company aims to revolutionize urban mobility through sustainable and futuristic two-wheeler solutions. Its flagship model, the F77, showcases innovation in battery technology, performance engineering, and design aesthetics. Backed by prominent investors like TVS Motor Company and Zoho Corp, Ultraviolette is focused on scaling production, expanding infrastructure, and leading the EV transition in India.
| Founded | 2016 |
|---|---|
| Headquarters | Bengaluru, India |
| Valuation | ~$220 million (2024 est.) |
| Annual Revenue (FY24 est.) | ₹80 Cr |
| Net Loss (FY24 est.) | ₹110 Cr |
| Employees | ~300 |
| Round | Year | Amount | Lead Investors |
|---|---|---|---|
| Seed | 2017 | Undisclosed | TVS Motor Company |
| Series A | 2020 | $15 million | TVS Motor, Zoho Corp |
| Series B | 2023 | $25 million | Qualcomm Ventures, TVS Motor |
| Series C | 2024 | $15 million | TVS Motor Company, others |
Ultraviolette’s revenue scaled from ₹15 Cr in FY22 to ₹80 Cr in FY24, primarily driven by the commercial launch of its flagship electric motorcycle, the F77. Despite growing losses, topline growth reflects demand momentum and customer traction.
EBITDA margins improved from -120% in FY22 to -60% in FY24, reflecting higher revenue base and improved operating leverage as scale effects kick in. Investments in R&D and manufacturing continue to impact margins.
The workforce at Ultraviolette expanded steadily from 180 in FY22 to 300 in FY24, in line with product development, production ramp-up, and retail expansion plans across India.
Ultraviolette plans to increase production capacity, expand to international markets (including Europe), launch new variants of the F77, and develop charging infrastructure. An IPO is being considered as scale and brand visibility grow.
Ultraviolette launched new performance variants of the F77, expanded dealership network, and secured strategic investments from TVS and international VCs to fuel global ambitions.
| Metric | Detail |
|---|---|
| Revenue FY24 | ₹80 Cr – Rapid growth post F77 launch and retail expansion. |
| Net Loss FY24 | ₹110 Cr – Ongoing R&D and production scale costs. |
| EBITDA Margin | -60% – Improved from -120%, signs of better efficiency. |
| Valuation | $220 million – Reflects strong investor backing and product roadmap. |
| Employee Count | 300 – Scaled workforce to support engineering and growth. |
Ultraviolette’s vision to redefine electric mobility in India is materializing through its high-performance offerings and strong investor backing. As the company scales operations and readies for global markets, it remains a leading innovator in the Indian EV ecosystem. Make smarter business decisions with verified insights on companies and directors. Visit Affluense.ai to learn more.
Entrackr, Economic Times, Business Standard, Autocar India, company releases.
Disclaimer: The information presented in this report is intended for general informational purposes only and does not constitute investment advice. All financial data is based on public sources and estimates where necessary.