Inc. 42 Exclusive Ultraviolet is raising another 373 crore rupees and MCA filings show exactly who's writing the checks. But the number that matters is a much smaller one. The raises part of an ongoing series E. Yali Capital and TDK Ventures account for 249.2 crore of it, taking Ultraviolet past 135 million dollars raised to date. And it's all pointing at one building, the BigGa factory. Over a thousand crore across five years, 800 crore for the new plant, 200 to expand Bengaluru. Annual capacity goes from about 30,000 vehicles to 2.5 lakh, designed to scale to 5. Now the smaller number. In August, ultraviolets sold 583 electric two-wheelers, down 17%, 0.3% of the Indian market. They're building for 2.5 lakh a year on 583 a month. New products are meant to change that math. The shockwave and the Tesseract target far larger segments than the F-77 and the founders say demand already tops 10,000 units a month. Bigga factory, they told Inc. 42, converts that technology foundation into industrial scale. Full story on Inc. 42
Machine-transcribed from the published render, so acronyms may be cased as ordinary words.