The air in Bangalore hangs thick, a familiar mix of exhaust and ambition. Ultraviolette, the electric motorcycle startup, is trying to cut through it. The company’s financials for FY25, just released, paint a complicated picture.
Losses ballooned. Up 89% to INR 116 Cr. This despite a ‘healthy top-line growth,’ as the Inc42 report put it. What does that mean, exactly? More bikes sold, more money coming in, but still, more red ink.
I spoke with an industry analyst this morning. He mentioned the usual suspects: scaling pains, supply chain hiccups, the brutal cost of building a brand from scratch. He pointed out the competitive landscape. Ather, Ola Electric – the fight for market share is fierce, a daily grind.
Ultraviolette, founded in 2016, has positioned itself as a premium player. The F77, their flagship bike, is a statement. Sleek, powerful, expensive. It’s a bet on a certain kind of customer, one willing to pay a premium for performance and design.
The numbers, though, tell a different story. The widening loss suggests the cost of acquiring those customers is, for now, unsustainable. The company hasn’t yet commented publicly on the results. But the market, as always, is watching.
The question is: Can Ultraviolette find a path to profitability? Can they navigate the high costs of the EV market and sustain growth? The next few quarters will be critical. The air in Bangalore, meanwhile, keeps getting thicker.
