
[Funding alert] Ultraviolette raises $15M from TVS Motor, Zoho in Series C round
Bengaluru-based electric bike startup ?Ultraviolette Automotive Pvt Ltd? has allegedly raised $14.85 million or Rs 112.5 crore from TVS Motor and Zoho Corporation in a Series C round, as indicated by a MCA recording dated December 8, 2021. TVS Motor Company drove the round, implanting $9.9 million (Rs 75 crore) in Ultraviolette Automotive. Zoho has contributed $5 million (Rs 37.5 crore) for a 2.46 percent stake in the endeavor. Established in 2015, Ultraviolette plans, creates and makes electric bikes and their frill. The startup raised Rs 50 crore of capital in a Series B round in October last year from TVS Motor and GoFrugal.