Electric Motorcycle Maker Ultraviolette Raises $85 Million, Adds Intel CEO as Adviser

Indian electric motorcycle manufacturer Ultraviolette announced Wednesday it has raised $85 million in a new funding round and appointed Intel (NASDAQ:INTC) CEO Lip-Bu Tan as a strategic adviser. The move signals the company's intent to accelerate its production and expand its international footprint.

Strategic Funding and Appointment

The funding round saw participation from Tan alongside deep-tech venture capital firms, including TDK Ventures and Yali Capital, where Tan also serves as an adviser. The appointment of a high-profile technology executive like Lip-Bu Tan underscores Ultraviolette's focus on integrating advanced technology into its electric vehicle platforms as it prepares for global competition.

Ultraviolette, which is backed by Indian automotive firm TVS Motor (NSE:TVSM), will use the capital injection to bolster its manufacturing capabilities and broaden its product offerings.

Use of Proceeds

According to the company's announcement, the newly raised funds are earmarked for several key growth initiatives:

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• Scaling up production capacity for its existing models.
• Supporting the launch of two upcoming models, named Tesseract and Shockwave.
• Funding the development of its next-generation electric vehicle platforms.

This capital infusion is critical for the company as it moves from a niche manufacturer to a larger-scale producer capable of serving multiple international markets.

Global Expansion Plans

With established operations in India and Europe, Ultraviolette is planning a significant international push. The company stated it aims to enter the U.S. market in 2027 and is also targeting future expansion into Latin America and Southeast Asia. The funding and strategic guidance are expected to support this multi-continent growth strategy.