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
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Sectors
Transportation, Automotive & Logistics
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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 Virtus Motors Private Limited
- Date of Incorporation 14 Jul, 2016
- Jurisdiction Thane, Maharashtra, India
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Annual Revenue
$47.72 K (USD)-4.5as on Mar 31, 2023
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Net Profit
-$54.53 K (USD)-3878.77as on Mar 31, 2023
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EBITDA
-$37.41 K (USD)-1567.96as on Mar 31, 2023
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Total Equity Funding
$37.58 K (USD)
in 1 rounds
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Latest Funding Round
$37.58 K (USD), Seed
Sep 05, 2022
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Investors
Polyplastics
& 2 more
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Employee Count
Employee Count
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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 Total Funding
- Total Rounds 1
- Last Round Seed — $37,580
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First Round
First Round
(05 Sep 2022)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2022 | Amount | Seed - Virtus Motors | Valuation | Siddhartha Kumar Gupta , Rishi Raaj Gupta |
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 |
|---|---|---|---|---|
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Manufacturer of automotive aftermarket accessories
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Founded Year | Domain | Location | |
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SK
Siddhartha Kumar Gupta |
Angel investor and entrepreneur, co-founder of Neo Group, fintech expert
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Founded Year | Domain | Location |
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RR
Rishi Raaj Gupta |
Angel investor and entrepreneur, focused on tech startups in India.
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Founded Year | Domain | Location |
Investments & Acquisitions by Virtus Motors
Financial Statements - Virtus Motors
Virtus Motors Comparisons
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 year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Electric bicycles and e-bikes are offered via an online platform.
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| domain | founded_year | HQ Location |
Electric bicycles are manufactured with features for pedal-assisted riding.
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| domain | founded_year | HQ Location |
Foldable electric bicycles are provided by Hornback platform.
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| domain | founded_year | HQ Location |
Electric bicycles with removable batteries are manufactured by VAAN.
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| domain | founded_year | HQ Location |
Electric bicycles are designed, manufactured, and sold by GHM.
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| domain | founded_year | HQ Location |
Electric bicycles and vehicles are manufactured in Mumbai, India.
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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 05, 2022.
Annual revenue of Virtus Motors is $47.72K as on Mar 31, 2023.
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.