Ultraviolette to launch F77 on Thursday; Funding comes from Qualcomm Ventures, Lingotto, ETAuto
UltraViolet, an innovator in sustainable mobility, has received investment from Qualcomm Ventures and Lingotto to expand its Series D round. New Delhi : Ultraviolette Automotive Pvt. Ltd. will launch it electric two wheeler Ultraviolet F77 on 24 November. The company started its pre-orders on October 23 and the product will be introduced in a phased manner, with the first batch of motorcycles being delivered in Bengaluru. The company said in a media release that the IDC range of the F77 is 307 km on a single charge.
Ultraviolette, an innovator in sustainable mobility, has received investment From Qualcomm Ventures And Lingotto To expand Series D round. in investment From Qualcomm Ventures And Lingotto Will be deployed later to expand company’s presence in India Expansion in international markets, and strengthening the brand’s technical capabilities and skills. The release said.
Qualcomm Ventures invests in companies focused on 5G, Artificial Intelligence, Automotive, IoT, Enterprise & Cloud, and XR/Metaverse. Qualcomm Ventures has more than 150 companies in its portfolio and manages over US$2 billion of assets in the US, China, India, Israel, Europe, Latin America and Korea.
Lingotto (formerly Exor Capital) is a wholly owned subsidiary of EXOR NV, with the largest or controlling stake in the companies. sports car manufacturer ferrari (RACE.MI), Stellantis (STLA.MI) CNH Industrial (CNHI.MI), Iveco Group (IVG.MI), The Economist Group, Via, and soccer team Juventus (JUVE.MI).
Narayan Subramaniam, Co-Founder and CEO, UltraViolet, said, “As we count down to the commercial launch of the F77 in India, this investment is testament to the fact that we have been able to create a distinct identity for UltraViolet and the F77 and create aspiration for the product among a global audience. We look forward to the support of Qualcomm Ventures and Lingotto in our vision to redefine the future of electric mobility and take the F77 global.” Thrilled.” Event.”
Qualcomm Technologies, Inc. “Qualcomm Ventures is proud to support Ultraviolette, which is committed to raising the performance and safety standards of electric two-wheelers with best-in-class technologies, design and engineering,” said Quinn Lee, senior vice president and global head of Qualcomm Ventures.
“We look forward to enabling companies like UltraViolet to accelerate the transformation already underway in the automotive industry, providing not only access to capital, but also the opportunity to potentially leverage Qualcomm’s world-class technology innovations,” he said.
Nikhil Bava Srinivasan, Managing Partner of Lingotto, said, “Our continued support for UltraViolet is based on what it hopes to be a market-defining product.”
“While we are focused on the commercial availability of the F77 in India, we are also actively building a roadmap for our next generation,” said Neeraj Rajmohan, Co-Founder and CTO, Ultraviolette. Expansion in international markets, and this capital investment will be integral in expanding our efforts in some of these markets.
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