Ultraviolette eyes ₹500 crore funding to back manufacturing and retail expansion
Bengaluru EV maker Ultraviolette Automotive is in talks with Yali Capital, Speciale Invest and TDK Ventures for an ongoing ₹500 crore-plus round. The company plans ₹1,000 crore in manufacturing investment, two Q1 2026 launches and expansion to 100-plus Indian cities by end-2026.
What happened
Ultraviolette Automotive · Bengaluru-based EV maker Ultraviolette is raising over ₹500 crore from Yali, Speciale and TDK to fund expansion. It also plans ₹1,000
Key facts
- Over ₹500 crore ongoing fundraise
- ₹1,000 crore planned manufacturing investment in Karnataka and Tamil Nadu
- Expansion to over 100 Indian cities by end-2026
- Two new models targeted for Q1 2026 launch
What changed
Bengaluru-based EV maker Ultraviolette is raising over ₹500 crore from Yali, Speciale and TDK to fund expansion. It also plans ₹1,000 crore of manufacturing investment, with new scooter and enduro motorcycle launches targeted for Q1 2026.
Why this matters
Ultraviolette’s ₹500 crore-plus funding pursuit signals accelerated EV retail expansion, with a target of 100-plus Indian cities by end-2026 alongside new product launches.
What to watch
- Formal fundraise announcement and whether proceeds meet or exceed ₹500 crore.
- Monthly deliveries, booking backlog and cancellation rates following new-product launches.
- Number of operational sales and service locations versus the stated 100-plus-city target by end-2026.
- Manufacturing capacity additions, supplier localization and any battery or motor technology partnerships.
- Retail pricing, financing EMIs and incentive intensity relative to rivals such as Ola Electric, Ather Energy, TVS Motor and Bajaj Auto.
Also reported by
- Mint — Same time