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Electric bike startup Ultraviolette to secure fresh funds in ongoing round

EntrackrEntrackr · 3m ago
Electric bike startup Ultraviolette to secure fresh funds in ongoing round
Medial

Electric bike startup Ultraviolette Automotive is set to raise Rs 32.6 crore ($3.85 million) in an extended Series E1 round led by Winever Industrial Enterprises and Dilip Anand Swadi with the participation of Breathe Capital and others. This round is an extension to its previous Rs 130 crore round led by Zoho Corporation raised in December last year. The board at Ultraviolette passed a resolution to issue 1,13,540 Series E1 CCPS at an issue price of Rs 2,874 to raise the aforementioned amount, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Winever Industrial Enterprises and Dilip Anand Swadi will lead the round with investments of Rs 10 crore each, while Breathe Capital will contribute Rs 6 crore. Twin & Bull Family Office and Mangalam Equity Management will invest Rs 2.5 crore and Rs 2 crore, respectively. Resolute Futurewave and Aprameya Radhakrishna (Co-founder and CEO of Koo) will each invest Rs 1 crore. As per Entrackr’s estimates, the company will be valued at Rs 2,887 crore (approximately $340 million) post-allotment. Founded in 2016, Ultraviolette Automotive is a two-wheeler manufacturer focused on clean energy and sustainable transportation. The company currently offers four electric bike variants: F77 Mach 2, F77 SuperStreet, Tesseract, and Shockwave. According to Vahan’s data, the Bengaluru-based company sold 543 vehicles in FY25 and 86 vehicles in April. Meanwhile, its lead investor, TVS Motor, emerged as the leader in India’s electric two-wheeler (E2W) market for April 2025, selling 19,736 units and capturing a 22% market share. According to startup data intelligence platform TheKredible, Ultraviolette Automotive has raised around $79 million to date from investors including TVS Motors, Mudhal Partners, Zoho Corporation, and others. For the fiscal year ended March 2024, the company reported an operating revenue of Rs 15 crore against Rs 8.7 crore in FY23. During the same period, Ultraviolette incurred a loss of Rs 61.6 crore.

EV startup Kazam raises $6.2 Mn from IFC, Vertex and Avaana Capital

EntrackrEntrackr · 1m ago
EV startup Kazam raises $6.2 Mn from IFC, Vertex and Avaana Capital
Medial

EV startup Kazam raises $6.2 Mn from IFC, Vertex, and Avaana Capital Bengaluru-based EV energy-tech platform Kazam has raised $6.2 million in Series B funding from the International Finance Corporation (IFC), along with existing investors Vertex Ventures Southeast Asia & India and Avaana Capital. This round takes Kazam’s total capital raised to $19.2 million, including $13 million in equity from previous rounds led by Avaana Capital, Vertex Ventures, and Chakra Ventures. The investment will fuel Kazam’s expansion across markets with its energy transition tools to accelerate adoption of sustainable mobility, the company said in a press release. Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is building a device-agnostic digital infrastructure platform that enables EV charging and battery-swapping operators, vehicle OEMs, fleets, and power utilities to manage and analyze charging assets. Kazam’s platform claims to have onboarded over 68,000 chargers and facilitated over 5 million charging sessions. The firm also saw its revenue grow 4X from $1.5 million in FY24 to $6 million in FY25 and is targeting $12 million in revenue with EBITDA positivity this fiscal. Kazam works with the likes of BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette.

E-mobility startup Kazam raises $8 Mn led by Vertex Ventures

EntrackrEntrackr · 1y ago
E-mobility startup Kazam raises $8 Mn led by Vertex Ventures
Medial

E-mobility startup Kazam has secured $8 million in Series A3 funding round led by Vertex Ventures Southeast Asia and India. The round also witnessed participation from Avaana Capital, Alteria Capital, and other notable investors. The company had previously raised $11.4 million from Avaana Capital Advisors and others. The fresh funds will be used to bolster its technology and product teams, enhance platform offerings, and expand market presence, Kazam said in a press release. Co-founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is an EV charging software platform which builds smart and affordable EV charging networks. The platform weeds out the hassles of EV infrastructure with its software and hardware solutions, designed to support charge point operators, fleet operators, and electricity grids. The startup’s aims to digitize the entire e-mobility value chain, from managing grid energy to fueling EVs and overseeing fleet operations. According to the Bengaluru-based company, its software enables a diverse range of vehicles, including two-wheelers, commercial electric vehicles (CEV) three-wheelers, and city buses, and claims to serve more than 25,000 charging points. It has recently launched LEV-DC, a fast charging option for electric two-wheelers and three-wheelers that can charge an electric scooter up to 80% in 20 minutes. Kazam has partnered with BigBasket, Zypp, Mahindra Logistics and other third-party logistics, facilitating 1 million transactions and integrating over 25,500 EV charging devices in the last 12 months. The firm also added that its reach extends to major vehicle OEMs including Bajaj, Ather, TVS, Hero MotoCorp, Mahindra, and Ultraviolette.

Ice cream brand Go Zero raises $1.5 Mn

EntrackrEntrackr · 1y ago
Ice cream brand Go Zero raises $1.5 Mn
Medial

Ice cream brand Go Zero has raised $1.5 million in its follow-on pre-Series A funding round from DSG Consumer Partners, Saama, and V3 Ventures, among others. The round also saw participation from notable angel investors such as Arjun Purkayastha. Earlier in August last year, the startup had raised $1 million in its pre-Series A funding round led by DSG Consumer Partners, Saama, and V3 Ventures. Founded by Kiran Shah, Go Zero has a diversified product portfolio featuring low-calorie, high-protein, and vegan ice creams. The startup claims that all its products are sweetened with plant-based sweeteners, which are low in calories. Currently present in 16 cities and over 125 dark stores, Go Zero ice cream brand is available on both quick commerce and e-commerce platforms in less than two years of launch. In FY24, Go Zero claims to have grown 4X compared to FY23 and while it saw 7X growth on quick commerce in just 5 months this summer. Go Zero competes with Hocco and NIC. Last year, NIC had raised $11 million in a growth funding round led by Jungle Ventures whereas Hocco recently raised $12 million from Chona family and others.

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