About Virtus Motors
Virtus Motors is a company based in Hyderabad (India) founded in 2016 by Vivek Shettigar and Tushaar Bajaj. Virtus Motors has raised $37.58 thousand across 1 funding round from investors including Polyplastics, Siddhartha Kumar Gupta and Rishi Raaj Gupta. Virtus Motors operates in a competitive market with competitors including EMotorad, eBik, Hornback, VAAN and GHM, among others.
- Headquarter Hyderabad, India
- Founders Vivek Shettigar, Tushaar Bajaj
- SectorsTransportation, Automotive & Logistics
- Email••••••••
- Phone•••• ••••
- Website virtusmotors.in
- Social LinkedIn X Facebook Instagram YouTube
- Legal Name Virtus Motors Private Limited
- Date of Incorporation 14 Jul, 2016
- Jurisdiction Thane, Maharashtra, India
- Annual Revenue₹39.7 Lakh
FY 2023 · -5% YoY
- Net Loss-₹45.3 Lakh
FY 2023 · -114% margin
- EBITDA-₹45 Lakh
FY 2023 · -113% margin
- Total Equity Funding$37.58K (USD)
in 1 rounds
- Latest Funding Round$37.58K (USD), Seed
Sep 2022
- InvestorsPolyplastics
& 2 more
Associated legal entities of Virtus Motors
Virtus Motors operates through Virtus Motors Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2023) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Virtus Motors Private Limited CIN U74999MH2016PTC283663 | Active | 14 Jul 2016 | Kalyan East, Maharashtra | ₹0.4 Cr | – | 4 | View details |
Apps and channels of Virtus Motors
its YouTube channel Virtus Motors has 277 subscribers and 7 videos.
Videos from Virtus Motors
The most watched videos on Virtus Motors's YouTube channel, Virtus Motors (277 subscribers). Click a video to play it here.
More on Virtus Motors.
Funding Insights of Virtus Motors
Virtus Motors has successfully raised a total of $37.58K through 1 strategic funding round. The most recent funding activity was a Seed round of $37.58 thousand completed in September 2022. 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 $37,580
- Total Rounds 1
- Last Round Seed — $37,580
- First Round $37,580
(Sep 2022)
- Investors Count 3
All 1 funding rounds of Virtus Motors 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 2022 | $37,580 | Seed | $250,666 | Siddhartha Kumar Gupta, Rishi Raaj Gupta |
Last known valuation $250,666 (Sep 2022). 3 investors in total: 1 institutional and 2 angel.
Investors in Virtus Motors
Virtus Motors has secured backing from 3 investors, including institutional and angel investors. Prominent investors backing the company include Polyplastics, Siddhartha Kumar Gupta and Rishi Raaj Gupta.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Manufacturer of automotive aftermarket accessories | – | polyplasticsindia.com | Yamuna Nagar, India | |
SK Siddhartha Kumar Gupta | Angel investor and entrepreneur, co-founder of Neo Group, fintech expert | – | unknown_d0aa55b466f645d8b | - |
RR Rishi Raaj Gupta | Angel investor and entrepreneur, focused on tech startups in India. | – | unknown_e0b5ccb4e7bf48909 | - |
Investor details for Virtus Motors
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Board of directors of Virtus Motors Private Limited (Virtus Motors)
Virtus Motors Private Limited is the primary company behind Virtus Motors. The board of Virtus Motors Private Limited currently have 4 directors; the longest-serving is Vivek Obi Shettigar, appointed in 2016. 3 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Vivek Obi Shettigar DIN 07532510 | Director | 14 Jul 2016 | 10 yrs 2 mo | Virtus Motors Private Limited |
| Tushaar Bajaj DIN 07531141 | Director | 14 Jul 2016 | 10 yrs 2 mo | Virtus Motors Private Limited |
| Rishi Raaj Gupta DIN 09687001 | Director | 10 Aug 2022 | 4 yrs 2 mo | Virtus Motors Private Limited |
| Siddhartha Kumar Gupta DIN 10569253 | Director | 30 Mar 2024 | 2 yrs 6 mo | Virtus Motors Private Limited |
People of Virtus Motors
2 people are tracked at Virtus Motors (2 in leadership).
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership |
Complete people profiles for Virtus Motors
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Verified entity values are shown only after access is granted.
Financials of Virtus Motors
Figures of Virtus Motors Private Limited, the primary company behind Virtus Motors, for FY 2023. Revenue was ₹39.7 Lakh (-5% year on year). Net loss was -₹45.3 Lakh (-114% margin). EBITDA was -₹45 Lakh (-113% margin). Revenue has grown at a compounded annual rate of +31% over three years.
- ₹39.7 LakhRevenue · FY 2023 · -5% YoY
- -₹45.3 LakhNet loss · -114% margin
- -₹45 LakhEBITDA · -113% margin
- ₹1.2 LakhPaid-up capital
- +31%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Virtus Motors Private Limited are on its company page.
Detailed financial statements for Virtus Motors
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Virtus Motors
2 dated milestones of Virtus Motors across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Virtus Motors is founded.
- Funding First funding round of $38K.
Competitors of Virtus Motors
Virtus Motors 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 EMotorad, eBik, Hornback, VAAN and GHM, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| emotorad.com | 2020 | Pune, India | $28.17M | 197 | Electric bicycles and e-bikes are offered via an online platform. | |
| ebik.in | 2017 | Delhi, India | $529,940 | – | Electric bicycles are manufactured with features for pedal-assisted riding. | |
| hornback.bike | 2022 | Hyderabad, India | $428,580 | 41 | Foldable electric bicycles are provided by Hornback platform. | |
| vaanmoto.com | 2019 | Kochi, India | $1.05M | – | Electric bicycles with removable batteries are manufactured by VAAN. | |
| ghmev.com | 2018 | Hyderabad, India | $724,512 | – | Electric bicycles are designed, manufactured, and sold by GHM. | |
| magnes.in | 2016 | Mumbai, India | – | – | Electric bicycles and vehicles are manufactured in Mumbai, India. | |
| svitch.bike | 2018 | Ahmedabad, India | – | – | Premium foldable electric bicycles and accessories are manufactured. | |
| austhraa.com | 2020 | Visakhapatnam, India | – | – | Electric bicycles are manufactured by Austhraa with advanced features. | |
| herolectro.com | 2020 | Gurugram, India | – | 2,065 | Offers electric bicycles, cargo e-bikes, and accessories for daily transportation. |
Detailed competitors of Virtus Motors
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Verified entity values are shown only after access is granted.
Web traffic of Virtus Motors
The website of Virtus Motors (virtusmotors.in) receives about 2.2K visits a month.
- Monthly visits2.2K
▼ 18.2% vs previous month
Latest news on Virtus Motors
Complete news archive for Virtus Motors
Full article history, source details, and older brand coverage require an active premium plan.
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Similar companies to Virtus Motors
10 companies that operate in the same segment as Virtus Motors (Electric & Green Mobility), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Electric kick-scooters are rented through an app-based platform. | 2017 | Miami, Florida, United States | USD 765.74 M | – | – | |
Electric kick-scooters are rented through an app-based platform. | 2017 | San Francisco, California, United States | USD 1.71 B | – | – | |
Electric ride-hailing and cab services are provided via mobile app. | 2019 | Mumbai, Maharashtra, India | USD 168.52 M | – | – | |
Shared electric two-wheelers are rented via an online platform. | 2017 | Bengaluru, Karnataka, India | USD 187.54 M | USD 2.14 M | 251 | |
Manufacturer of electric scooters, charging infrastructure, smart helmets, and accessories | 2013 | Bengaluru, Karnataka, India | USD 502.15 M | USD 391.37 M | 1,620 | |
App-based platform offering electric kick scooter rental services | 2018 | Amsterdam, Netherlands | USD 211.85 M | – | – | |
Electric vehicles are manufactured and developed by Polestar. | 1996 | Goteborg, Vastra Gotaland, Sweden | USD 550 M | USD 3.06 B | 2,550 | |
Electric buses and charging systems are manufactured for fleets. | 2004 | Burlingame, California, United States | USD 857.79 M | USD 309.36 M | 1,247 | |
Multi-category electric vehicles are manufactured for diverse applications. | 1999 | Bedford, United States | USD 101.78 M | – | – | |
Autonomous aerial vehicles are provided for consumer and commercial uses. | 2014 | Guangzhou, Guangdong, China | USD 94 M | USD 58.15 M | 483 |
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Frequently Asked Questions about Virtus Motors
Virtus Motors was founded in 2016 and raised its 1st funding round 6 years after it was founded.
Virtus Motors is headquartered in Hyderabad, India. It is registered at Hyderabad, Telangana, India.
Virtus Motors is a funded company, having raised a total of $37.58K across 1 funding round to date. The company's 1st funding round was a Seed of $37.58K, raised on Sep 2022.
The primary company behind Virtus Motors, Virtus Motors Private Limited, reported revenue of ₹39.7 Lakh for FY 2023, down 5% year on year.
Virtus Motors was founded in 2016 and is headquartered in Hyderabad, India. Electric two-wheelers are produced by the company, incorporating components such as lithium batteries, LCD displays, disc brakes, and assist systems. Operations focus on vehicle development within the electric mobility sector, targeting sustainable transportation solutions in the Indian market. Co-founders Vivek Shettigar and Tushaar Bajaj lead the efforts.
Virtus Motors has 3 investors. Key investors include Polyplastics, Siddhartha Kumar Gupta, and Rishi Raaj Gupta.
The valuation of Virtus Motors is $250.67K as of Sep 2022.
Virtus Motors operates through Virtus Motors Private Limited.
The legal entities of Virtus Motors currently have 4 directors, including Rishi Raaj Gupta, Vivek Obi Shettigar, Siddhartha Kumar Gupta and others.