About Velocity
Velocity is a company based in Bengaluru (India) founded in 2020 by Atul Khichariya, Abhiroop Medhekar, and Saurav Swaroop. It operates as a FinTech, Revenue Share, and Subscription Services. Velocity has raised $30.3 million across 2 funding rounds from investors including Valar Ventures, Presight Capital and iSeed. The company has 151 employees as of April 09, 2024. Velocity offers products and services including Finance, Shipping, Vani AI, Insights, and Payments. Velocity operates in a competitive market with competitors including Moove and GetVantage, among others.
- Headquarter Bengaluru, India
- Employees 151 as on 09 Apr, 2024
- Founders Atul Khichariya, Abhiroop Medhekar, Saurav Swaroop
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name White Wizard Technologies Pvt. Ltd.
- Date of Incorporation 12 Feb, 2019
- Jurisdiction Gurgaon, Haryana, India
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Annual Revenue
$2.03 M (USD)231.79as on Mar 31, 2023
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Net Profit
$-3.12 M (USD)-225.09as on Mar 31, 2023
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EBITDA
$-3.58 M (USD)-295.06as on Mar 31, 2023
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Total Equity Funding
$30.3 M (USD)
in 2 rounds
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Latest Funding Round
$20 M (USD), Series A
Nov 17, 2021
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Investors
Valar Ventures
& 5 more
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Employee Count
151
as on Apr 09, 2024
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Products & Services of Velocity
Velocity offers a comprehensive portfolio of products and services, including Finance, Shipping, Vani AI, Insights, and Payments. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Financing solutions are provided for eCommerce growth needs.
Fast shipping services are offered for eCommerce brands.
AI-powered communication tools are developed for customer interaction.
Data-driven insights are provided for eCommerce decision-making.
Hassle-free payment solutions are facilitated for online businesses.
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Funding Insights of Velocity
Velocity has successfully raised a total of $30.3M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $20 million completed in November 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 Total Funding
- Total Rounds 2
- Last Round Series A — $20.0M
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First Round
First Round
(24 Mar 2021)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2021 | Amount | Series A - Velocity | Valuation | Valar Ventures | |
| Mar, 2021 | Amount | Seed - Velocity | Valuation | Valar Ventures |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Velocity
Velocity has secured backing from 6 investors, including venture fund and angel investors. Prominent investors backing the company include Valar Ventures, Presight Capital and iSeed. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Global investments in tech sectors are conducted by Valar Ventures.
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Founded Year | Domain | Location | |
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Venture capital fund backed by the Christian family office
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Founded Year | Domain | Location | |
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Micro venture capital fund focused on multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Velocity
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Velocity
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Velocity Comparisons
Competitors of Velocity
Velocity operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Moove and GetVantage, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Revenue-based vehicle financing is offered to mobility entrepreneurs.
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| domain | founded_year | HQ Location |
Lenders and businesses are connected via a fintech platform.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Velocity
Frequently Asked Questions about Velocity
When was Velocity founded?
Velocity was founded in 2020 and raised its 1st funding round 1 year after it was founded.
Where is Velocity located?
Velocity is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of Velocity?
Abhiroop Medhekar is the current CEO of Velocity. They have also founded this company.
Is Velocity a funded company?
Velocity is a funded company, having raised a total of $30.3M across 2 funding rounds to date. The company's 1st funding round was a Seed of $10.3M, raised on Mar 24, 2021.
How many employees does Velocity have?
As of Apr 09, 2024, the latest employee count at Velocity is 151.
What is the annual revenue of Velocity?
Annual revenue of Velocity is $2.03M as on Mar 31, 2023.
What does Velocity do?
Velocity is established as a key enabler for eCommerce brands in India. Digital-first businesses are supported through innovative products like smart capital, fast logistics, hassle-free payments, and AI-powered solutions. Sectors such as eCommerce, SaaS, EdTech, and restaurants are served with tailored financial and operational tools. Growth is facilitated through revenue-based financing, shipping optimization, and data analytics. An exclusive ecosystem of partners and community events is provided to accelerate brand development and networking opportunities.
Who are the top competitors of Velocity?
Velocity's top competitors include GetVantage and Moove.
What products or services does Velocity offer?
Velocity offers Finance, Shipping, Vani AI, Insights, and Payments.
Who are Velocity's investors?
Velocity has 6 investors. Key investors include Valar Ventures, Presight Capital, iSeed, Maninder Gulati, and Zac Prince.
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