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TDK backs Ultraviolette with $21 million to take India-made electric motorcycles global
India-based electric motorcycle startup Ultraviolette has secured a significant investment of $21 million from the corporate venture arm of Japanese electronics giant TDK Corporation. The funding, which will be used for expansion purposes, comes at a crucial time as the company plans to grow its European footprint fourfold and enter other markets such as Latin America and Southeast Asia.
As part of this massive growth plan, Ultraviolette aims to increase its portfolio by adding 10 new models by early 2027. This ambition is reflective of the startup’s long-term goal of becoming a global company from day one.
“We asked ourselves, if we have to make electric exciting in two-wheelers, what would it take? And that’s the objective with which we started,” said CTO Niraj Rajmohan, highlighting the company’s focus on performance, innovation, and user experience.
Source: techcrunch.com
