Automotive Pvt. Ltd announced that it has raised a fresh round of capital from
a fund managed by Exor Capital. This investment is part of an ongoing (Series
D) round of funding, with Exor Capital as the lead investor. With this
investment, the fund now joins the cap table along with TVS Motor, Zoho
Corporation, GoFrugal Technologies, Speciale Invest.
Capital is a fully owned subsidiary of Exor N.V. Exor is the single largest
shareholder in Stellantis and has controlling stakes in companies including
sports car maker Ferrari, CNH Industrial, Iveco Group, The Economist Group, Via,
and the soccer team Juventus.
Ultraviolette is primed to launch the F77 in India, this investment from Exor
will be utilised towards expansion of the company’s presence across India,
ramping up sales of the F77 in the country and subsequent expansion in
international markets including trials, certifications and sales.
Subramaniam, Co-Founder and CEO, Ultraviolette stated, “We are thrilled to have
Exor Capital as our investor and believe we have found the perfect partner in
them given their multi-generational, entrepreneurial experience of working with
some of the world’s most admired and loved brands. With this investment, we now
have a diversified group of prominent Indian and international institutional
investors backing us in our journey and vision of shaping a new era of mobility
not just in India but in global markets as well.”
Srinivasan, Managing Partner at Exor Capital said, “Exor Capital has a strong
interest in innovation and sustainability. We believe, Ultraviolette is an
opportunity that covers both. We are delighted to work with the founders and
respect their vision in the mobility space.”
Rajmohan, Co-Founder and CTO, Ultraviolette, said, “The investment from Exor is
a testament to our uncompromising ambition to redefine the future of mobility.
We see perfect synergies and uniquely exciting opportunities of working
together with Exor. We believe that their expertise in working with brands like
Ferrari and Stellantis and building great companies will be integral in carving
a distinct identity for Ultraviolette and the F77 across the world.”
the unveiling of the F77, Ultraviolette has made significant advancements on
the motorcycle across various parameters. The company recently concluded its
first public test ride with an elite group of pilots from the aviation
community to demonstrate the F77’s cutting edge specs and capabilities.
will roll out with public test rides beginning September 2022 and will
commercially launch the F77 in India this year. The company has received over
65,000 pre order interests of which India, the USA, and Europe represent a
significant part of these numbers.
investment was facilitated by Rothschild & Co as the banking partners.
Anagram Partners and Nishith Desai Associates acted as counsel to Ultraviolette
and Exor Capital.
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