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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The startup isn’t sure where its future lies—in electric motorcycles or the more recently announced electric scooter? Unsurprisingly, none of the products have amounted to anything so far.
First, the good news. Bengaluru-based Ultraviolette raised $85 million last month, the largest amount of funding the premium electric motorcycle maker has secured in its 10 years of existence. The latest round comes after a year of fundraising struggles. Few were willing to back the company until Yali Capital and TDK Ventures stepped in.
Now, the bad news. The company has raised $185 million or thereabouts to date, but has little to show for it.
Its electric motorcycle business has been in the slow lane for the longest time. The three electric motorcycles—the F77 Mach 2, the F77 SuperStreet and …
A proposed Rs 12,000 crore incentive shifts the focus to components after the first scheme fell short. But raw material dependence, gaps in technology and China’s dominance remain.
The EV maker is turning to gig-worker rentals to absorb its scooter output. But questions on cost, competition and execution make its latest pivot uncertain.
The EV maker is back for fresh capital as its businesses fail to generate enough to sustain themselves.
