Electric bike startup Ultraviolette plans to raise up to $75 Mn


Ultraviolette Automotive plans to raise up to $75 Mn in the next 12-14 months, across series B and C rounds, three people aware of the plan told Mint.


Part of the funds will be raised via equity and a small portion of debt in series C next year, said another person, adding that the four-year old startup is currently valued at $50 Mn.


"Electric vehicle manufacturing is a very capital-intensive domain. This means that it is not just about early stage R&D or growth capital or international expansion. There are multiple stages a company will have to go through. For us, this is just the beginning," said Niraj Rajmohan, founder and CTO, Ultraviolette Automotive, declining to disclose details of the planned fundraise.

45 views0 comments
  • Amazon Social Icon
  • Facebook Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon
  • Instagram

© 2021 by StartupNews. Proudly created in India