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Hey I am on Medialย โ€ขย 3m

Ultraviolette raises Rs 130 Cr funding from Zoho, others The electric vehicle industry in India has been evolving rapidly over recent years. Ultraviolette has swiftly entered the market with a strong presence and innovative offerings. The Bengaluru-based electric motorcycle manufacturer Ultraviolette raises Rs 130 Cr in funding round. This financial milestone reflects growing investor confidence in Indiaโ€™s expanding electric vehicle market. Strategic Investors Fuel Ultravioletteโ€™s Ambitious Vision The latest funding round brings together an impressive consortium of investors with diverse technological backgrounds. Zoho Corporation, the renowned SaaS technology company, leads the investment alongside Lingotto Co-Invest Fund I and Mudhal Partners. These strategic investors recognise the immense potential of Ultravioletteโ€™s innovative electric motorcycle technology. Delving into the technical details, the companyโ€™s board approved a nuanced financial instrument. They allotted 4,52,431 preference shares with a nominal face value of โ‚น10 per share. The premium attached to these shares stands at an impressive โ‚น2,864, bringing the total issue price to โ‚น2,874 per share. This calculated approach demonstrates the companyโ€™s sophisticated financial engineering.

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