Ultraviolette raises series D investment from European investor Exor Capital

Ultraviolette Automotive Pvt. Ltd announced that it has raised a fresh round of capital from a fund managed by Exor Capital. This investment is part of an ongoing (Series D) round of funding, with Exor Capital as the lead investor. With this investment, the fund now joins the cap table along with TVS Motor, Zoho Corporation, GoFrugal Technologies, Speciale Invest.

Exor Capital is a fully owned subsidiary of Exor N.V. Exor is the single largest shareholder in Stellantis and has controlling stakes in companies including sports car maker Ferrari, CNH Industrial, Iveco Group, The Economist Group, Via,  and the soccer team Juventus.

While Ultraviolette is primed to launch the F77 in India, this investment from Exor will be utilised towards expansion of the company’s presence across India, ramping up sales of the F77 in the country and subsequent expansion in international markets including trials, certifications and sales.

Narayan Subramaniam, Co-Founder and CEO, Ultraviolette stated, “We are thrilled to have Exor Capital as our investor and believe we have found the perfect partner in them given their multi-generational, entrepreneurial experience of working with some of the world’s most admired and loved brands. With this investment, we now have a diversified group of prominent Indian and international institutional investors backing us in our journey and vision of shaping a new era of mobility not just in India but in global markets as well.”

Nikhil Srinivasan, Managing Partner at Exor Capital said, “Exor Capital has a strong interest in innovation and sustainability. We believe, Ultraviolette is an opportunity that covers both. We are delighted to work with the founders and respect their vision in the mobility space.”

Niraj Rajmohan, Co-Founder and CTO, Ultraviolette, said, “The investment from Exor is a testament to our uncompromising ambition to redefine the future of mobility. We see perfect synergies and uniquely exciting opportunities of working together with Exor. We believe that their expertise in working with brands like Ferrari and Stellantis and building great companies will be integral in carving a distinct identity for Ultraviolette and the F77 across the world.”

Since the unveiling of the F77, Ultraviolette has made significant advancements on the motorcycle across various parameters. The company recently concluded its first public test ride with an elite group of pilots from the aviation community to demonstrate the F77’s cutting edge specs and capabilities.

Ultraviolette will roll out with public test rides beginning September 2022 and will commercially launch the F77 in India this year. The company has received over 65,000 pre order interests of which India, the USA, and Europe represent a significant part of these numbers.

The investment was facilitated by Rothschild & Co as the banking partners. Anagram Partners and Nishith Desai Associates acted as counsel to Ultraviolette and Exor Capital.