Ultraviolette raises $85M as Indian startup funding hits $382M for the week

Electric two-wheeler maker Ultraviolette secured $85 million in funding during September 19-25, in a week when Indian startups raised $382 million across 21 transactions. Debt financing, including DMI Finance’s $152 million NCD raise, lifted the overall tally.

— Source publishedSat, 26 Sept, 2026, 19:16 IST·First seen Sat, 26 Sept, 2026, 19:19 IST·Source YourStory

What happened

Indian startups raised $382 million across 21 deals during September 19-25. Two-wheeler EV manufacturer Ultraviolette secured $85 million, while DMI Finance

Key facts

  • $382 million raised across 21 transactions
  • DMI Finance raised Rs 1,455 crore ($152 million) via NCDs
  • Ultraviolette raised $85 million
  • Ema raised $77 million
  • Hughes Precision Manufacturing raised Rs 250 crore ($26 million)

What changed

Indian startups raised $382 million across 21 deals during September 19-25. Two-wheeler EV manufacturer Ultraviolette secured $85 million, while DMI Finance raised Rs 1,455 crore through debt, driving the week’s funding increase.

Why this matters

Ultraviolette’s $85 million funding provides capital to scale EV production, strengthen dealer and service coverage, and support a broader retail rollout in India.

What to watch

  • Number and geography of new Ultraviolette retail stores, dealers and authorized service points.
  • Delivery volumes, booking backlog and stated manufacturing-capacity targets.
  • Launch timing and pricing of new Ultraviolette models versus Ather, Ola Electric, TVS, Bajaj and Revolt offerings.
  • Financing partnerships, EMI rates, residual-value guarantees and trade-in programs.
  • Battery localization, charging interoperability and warranty announcements.

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