About Elixia Speed
Elixia Speed was a Transportation, Automotive & Logistics company based in Mumbai (India) founded in 2011 by Sanket Sheth and Ankit Zatakia. It offers an integrated solution for vehicle tracking and management to enhance efficiency. It operates on a B2B model. Elixia Speed has raised $665.06 thousand across 4 funding rounds from investors including Rajasthan Venture Capital Fund, Mukund Ratilal Sheth and Mickin Mukund Sheth. The company has 37 employees. Elixia Speed was last valued at $3.54 million in September 2021. Its chief executive, as recorded, is Sanket Sheth. Its Indian entity Elixia Tech Solutions Limited reported revenue of ₹62.9 Lakh. The company is recorded as dissolved. Its focus areas include Technology and Transportation, Vehicle Management, Tracking Solutions and Fleet Management.
Company details
Elixia Speed, based in Mumbai, focuses on technology and transportation, vehicle management, offering tracking solutions, and managing fleet operations. Offers an integrated solution for vehicle tracking and management to enhance efficiency. The company prioritizes operational excellence, innovation, and customer-centric approaches for success.
- Headquarters Mumbai, India
- Employees 37
- Founders Sanket Sheth, Ankit Zatakia
- Stage Minicorn
- SectorsTransportation, Automotive & Logistics
- Website elixiaspeed.com
- Social LinkedIn X Facebook
- Legal Name Elixia Tech Solutions Limited
- Date of Incorporation 13 Jul, 2011
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹62.9 Lakh
FY 2026 · +105% YoY
- Net Profit₹37.8 Lakh
FY 2026 · 60% margin
- EBITDA₹53.8 Lakh
FY 2026 · 86% margin
- Total Equity Funding$665.06K (USD)
in 4 rounds
- Latest Funding Round$99.45K (USD), Seed
Sep 2021
- InvestorsRajasthan Venture Capital Fund
& 15 more
- Employee Count37
Associated legal entities of Elixia Speed
Elixia Speed operates through Elixia Tech Solutions Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Elixia Tech Solutions Limited CIN U72300MH2011PLC219715 | Active | 13 Jul 2011 | Mumbai, Maharashtra | ₹0.6 Cr | 68 | 3 | View details |
Funding Insights of Elixia Speed
Elixia Speed has successfully raised a total of $665.06K across 4 strategic funding rounds. The most recent funding activity was a Seed round of $99.45 thousand completed in September 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $665,059
- Total Rounds 4
- Last Round Seed — $99,450
- First Round $157,025
(Mar 2014)
- Investors Count 16
All 4 funding rounds of Elixia Speed with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2021 | $99,450 | Seed | $3.54M | Mukund Ratilal Sheth | |
| Feb 2020 | $36,123 | Seed | $849,962 | Ms Village Home Concept | |
| Oct 2018 | $372,461 | Seed | $••••• | Mukund Ratilal Sheth | |
| Mar 2014 | $157,025 | Seed | $••••• | Kuber Wealth Management |
| Date | Valuation | Stage |
|---|---|---|
| Sep 2021 | $3.54M | •••••••• |
Last known valuation $3.54M (Sep 2021). 16 investors in total: 3 institutional and 13 angel.
Investors in Elixia Speed
Elixia Speed has secured backing from 16 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Rajasthan Venture Capital Fund, Mukund Ratilal Sheth and Mickin Mukund Sheth.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund investing in multiple sectors | 2002 | rvcf.org | Jaipur, India | |
MR Mukund Ratilal Sheth | unknown_0902e71d21a444deb | |||
MM Mickin Mukund Sheth | unknown_71779da01aa54b12a | |||
SS Sanket Sheth | unknown_b8a1c85e660948dbb | |||
MM Mickin Mukund Sheth | unknown_fa63d41bf6f4480a8 | |||
HS Harsha Sheth | unknown_1c0616c571fb425fb | |||
HM Honey Mickin Sheth | unknown_c600aa09128f4152b | |||
SS Shachi Sanket Sheth | unknown_a35f86737e5b4d6bb |
Investor details for Elixia Speed
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Board of directors of Elixia Tech Solutions Limited (Elixia Speed)
Elixia Tech Solutions Limited is the primary company behind Elixia Speed. The board of Elixia Tech Solutions Limited currently have 3 directors; the longest-serving is Mickin Mukund Sheth, appointed in 2011. 3 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Mickin Mukund Sheth DIN 00524878 | Director | 13 Jul 2011 | 15 yrs 4 mo | Elixia Tech Solutions Limited |
| Sanket Mukund Sheth DIN 00525128 | Director | 13 Jul 2011 | 15 yrs 4 mo | Elixia Tech Solutions Limited |
| Mukund Ratilal Sheth DIN 00090938 | Director | 13 Jul 2011 | 15 yrs 4 mo | Elixia Tech Solutions Limited |
People of Elixia Speed
2 people are tracked at Elixia Speed (2 in leadership); the tracked headcount is 37.
| Name | Role | Group |
|---|---|---|
| Co-Founder, CEO | Leadership | |
Ankit Zatakia | Co-Founder, COO | Leadership |
Complete people profiles for Elixia Speed
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
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Verified entity values are shown only after access is granted.
Financials of Elixia Speed
Figures of Elixia Tech Solutions Limited, the primary company behind Elixia Speed, for FY 2026. Revenue was ₹62.9 Lakh (+105% year on year). Net profit was ₹37.8 Lakh (60% margin). EBITDA was ₹53.8 Lakh (86% margin). Revenue has grown at a compounded annual rate of -62% over three years and -32% over five years.
- ₹62.9 LakhRevenue · FY 2026 · +105% YoY
- ₹37.8 LakhNet profit · 60% margin
- ₹53.8 LakhEBITDA · 86% margin
- ₹6.13 CrPaid-up capital
- 68Employees (provident fund records)
- -62%Revenue CAGR, 3 years
- -32%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Elixia Tech Solutions Limited are on its company page.
Detailed financial statements for Elixia Speed
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Verified entity values are shown only after access is granted.
Timeline of Elixia Speed
4 dated milestones of Elixia Speed across 10 years, from founding to its latest funding, stage changes and deals.
- Founded Elixia Speed is founded.
- Funding First funding round of $157K.
- Funding Latest funding round, Seed, of $99K.
- Milestone Reaches Minicorn status.
Top companies in Commercial & Off-Highway Vehicles
3 companies that operate in the same segment as Elixia Speed (Commercial & Off-Highway Vehicles) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Electric three-wheelers are designed, manufactured, and marketed for passenger transport. | 2022 | Chennai, Tamil Nadu, India | USD 519.2 M | USD 2.07 B | 530 | |
Develops innovative GPS tracking technologies for fleet operators. | 2000 | Valsad, Gujarat, India | ||||
Lynkit develops telematic systems for enterprise fleet tracking. | 2017 | Delhi, Delhi, India | USD 2.06 M | 100 |
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Related news about Elixia Speed
Complete news archive for Elixia Speed
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Frequently Asked Questions about Elixia Speed
Elixia Speed was founded in 2011 and raised its 1st funding round 3 years after it was founded.
Elixia Speed is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Sanket Sheth is the CEO of Elixia Speed, as recorded in our data. They have also founded this company.
Elixia Speed is a funded company, having raised a total of $665.06K across 4 funding rounds to date. The company's 1st funding round was a Seed of $157.03K, raised on Mar 2014.
Elixia Speed has 37 employees.
The primary company behind Elixia Speed, Elixia Tech Solutions Limited, reported revenue of ₹62.9 Lakh for FY 2026, up 105% year on year.
Elixia Speed, based in Mumbai, focuses on technology and transportation, vehicle management, offering tracking solutions, and managing fleet operations. Offers an integrated solution for vehicle tracking and management to enhance efficiency. The company prioritizes operational excellence, innovation, and customer-centric approaches for success.
Elixia Speed has 16 investors. Key investors include Rajasthan Venture Capital Fund, Mukund Ratilal Sheth, Mickin Mukund Sheth, Sanket Sheth, and Mickin Mukund Sheth.
The valuation of Elixia Speed is $3.54M as of Sep 2021.
Elixia Speed operates through Elixia Tech Solutions Limited.
The legal entities of Elixia Speed currently have 3 directors, including Mickin Mukund Sheth, Sanket Mukund Sheth, Mukund Ratilal Sheth.