India's Ultraviolette taps Intel CEO as adviser, raises $85 million

TVS Motor

23/09/2026 13:48

Sept 23 (Reuters) - India's Ultraviolette brought on Intel INTC.O CEO Lip-Bu Tan as an adviser, the electric motorcycle manufacturer said on Wednesday, as it plans to expand internationally.
Tan also participated in an $85 million funding round, along with deep-tech venture capital firms, with the Indian firm aiming to increase production and expand its product line.
Here are some more details:
TVS Motor-backed TVSM.NS Ultraviolette, which has a presence in Europe and India, is targeting a US entry in 2027, along with expansion across key markets in Latin America and Southeast Asia.
Yali Capital, where Tan serves as an adviser, and TDK Ventures participated in the funding round, along with other investors. 
Ultraviolette will use the newly raised funds to scale production for its current products, launch upcoming models Tesseract and Shockwave, and develop its next generation of EV platforms. 
Reuters earlier reported that the EV startup is looking to invest 7.79 billion rupees ($81.37 million) in a new plant to expand its manufacturing capacity and support its entry into the mass-market segment. 
Ultraviolette registrations have nearly tripled year-to-date compared to the previous year, according to data from the national vehicle registry, as Indians increasingly adopt electric vehicles due to their lower operating costs, fuel-price volatility and regulatory support. 
($1 = 95.7400 Indian rupees)

(Reporting by Saikeerthi in Bengaluru; Editing by Harikrishnan Nair)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))