An extended Series E1 round led by Winever Industrial Enterprises and Dilip Anand Swadi, with Breathe Capital and others participating, is expected to earn Rs. 32.6 crore ($3.85 million) for the electric bike company Ultraviolette Automotive. frm nxt week
Zoho Corporation led the last round, which garnered Rs. 130 crore in December of last year. This round is an extension of that investment.
According to Ultraviolette's regulatory filing obtained from the Registrar of Companies (RoC), the board decided to issue 1,13,540 Series E1 CCPS at an issue price of Rs. 2,874 in order to raise the aforementioned sum.
Breathe Capital will contribute Rs. 6 crore, while Winever Industrial Enterprises and Dilip Anand Swadi will lead the round with investments of Rs. 10 crore apiece. Mangalam Equity Management and Twin & Bull Family Office would contribute Rs. 2 crore and Rs. 2.5 crore, respectively. The co-founder and CEO of Koo, Aprameya Radhakrishna, and Resolute Futurewave will each contribute Rs. 1 crore.
Ultraviolette Automotive is a two-wheeler manufacturer that was founded in 2016 with an emphasis on sustainable mobility and clean energy. The F77 Mach 2, F77 SuperStreet, Tesseract, and Shockwave are the four electric bike models that the firm presently sells.
Vahan's data shows that the Bengaluru-based company sold 86 cars in April and 543 cars in FY25. In the meantime, TVS Motor, its principal investor, sold 19,736 units and took a 22 percent market share in April 2025, making it the market leader in India for electric two-wheelers (E2Ws).
