Ultraviolette Automotive has commenced deliveries of the F77, marking the start of the company's next stage of growth, which includes setting up dealerships nationwide and expanding its global presence.
To support the next growth stage, the company plans to raise $120 million in a fresh investment round. The funds will be used for the company's global expansion plans and to support its ongoing vehicle platform development efforts.
So far, the vehicle maker has raised over $55 million since inception, and previous financing rounds have seen participation from leading investment companies, including Europe's EXOR Capital, US-based Qualcomm Ventures, TVS Motor Company, Zoho Corp, Gofrugal Technologies, and Speciale Invest.
Niraj Rajmohan, Co-founder and CTO, Ultraviolette, said, “The infusion of funds from partners who share our vision will enable Ultraviolette to scale new vehicle programmes, expand our domestic footprint, and accelerate international product rollout.”
The F77 is available to customers starting at an ex-showroom price of INR 3.8 lakh and comes in three forms - Airstrike, Shadow, and Laser. In addition, each form comes in two variants - the F77 and the F77 Recon with an IDC Range of 206 km and 307 km, respectively.
The OEM unveiled the F99 Factory Racing Platform at the recently concluded Auto Expo 2023, signalling its foray into electric motorsports.
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