VIR Mobility Pvt Ltd, an innovative startup dedicated to transforming sustainable personal mobility solutions, has been awarded ₹45 lakh under India’s Startup India Seed Fund Scheme (SISFS). This funding was facilitated through the Bhau Institute at the College of Engineering Pune (COEP), a prominent center for fostering entrepreneurship.

The SISFS, launched by the Government of India in April 2021, aims to provide financial assistance to early-stage startups for activities such as proof of concept validation, prototype development, product trials, market entry, and commercialization. The scheme has a corpus of ₹945 crore over four years, with the goal of supporting approximately 3,600 startups across the country. ([india.gov.in](https://www.india.gov.in/spotlight/startup-india-seed-fund-scheme-sisfs?utm_source=openai))

This financial boost will enable VIR Mobility to accelerate its research and development efforts, enhance product innovation, and strengthen its market presence. The selection for this competitive grant underscores the startup’s potential to contribute meaningfully to India’s evolving mobility landscape. In addition to funding, VIR Mobility will benefit from the technical expertise and business mentorship provided by the Bhau Institute at COEP.

Ravi Kumar, Co-Founder and CEO of VIR Mobility Pvt Ltd, expressed his enthusiasm:

“We are honored to receive this recognition from Startup India. This funding will accelerate our efforts to deliver efficient and eco-friendly mobility solutions, reinforcing our commitment to innovation and sustainable transportation.”

Mandar Joshi, CEO of Bhau Institute at COEP, stated:

“We are delighted to support VIR Mobility through this initiative. Their work exemplifies the spirit of innovation that the Startup India Seed Fund Scheme aims to nurture. We look forward to their continued growth and success.”

Founded in April 2024, VIR Mobility Pvt Ltd is dedicated to developing advanced and sustainable mobility solutions. The company’s flagship product, the VIR Bike, is an electric cycle designed to provide commuters with seamless and eco-friendly transportation options.

The electric vehicle (EV) market in India is experiencing rapid growth, with a projected compound annual growth rate (CAGR) of 44% from 2020 to 2027. This expansion is driven by increasing environmental awareness, government incentives, and advancements in EV technology. VIR Mobility’s focus on electric cycles aligns with this trend, offering a sustainable alternative to traditional transportation methods.

In the United States, the adoption of electric bicycles has also been on the rise, with sales increasing by 145% from 2019 to 2021. Cities like Portland, Oregon, and San Francisco, California, have implemented bike-sharing programs that include electric bikes, promoting eco-friendly transportation options. VIR Mobility’s VIR Bike could find a receptive market in the U.S., especially in urban areas seeking sustainable commuting solutions.

The support from the Startup India Seed Fund Scheme is a significant milestone for VIR Mobility, providing the necessary resources to scale its operations and impact. As the company continues to innovate and expand, it has the potential to play a pivotal role in shaping the future of sustainable transportation both in India and internationally.

What is the Startup India Seed Fund Scheme (SISFS)?

The Startup India Seed Fund Scheme (SISFS) is an initiative by the Government of India, launched in April 2021, aimed at providing financial assistance to early-stage startups. the scheme offers support for activities such as proof of concept validation, prototype development, product trials, market entry, and commercialization.With a corpus of ₹945 crore over four years, SISFS aims to support approximately 3,600 startups across the country. ([reuters.com](https://www.reuters.com/business/autos-transportation/india-allots-109-bln-rupees-scheme-promote-electric-vehicles-2024-09-11/?utm_source=openai))

How does the ₹45 lakh funding benefit VIR Mobility Pvt Ltd?

The ₹45 lakh funding awarded to VIR Mobility Pvt Ltd under the SISFS will enable the company to accelerate its research and development efforts, enhance product innovation, and strengthen its market presence. This financial boost underscores the startup’s potential to contribute meaningfully to India’s evolving mobility landscape.Additionally, VIR Mobility will benefit from the technical expertise and business mentorship provided by the Bhau Institute at the College of Engineering Pune (COEP). ([reuters.com](https://www.reuters.com/business/autos-transportation/india-allots-109-bln-rupees-scheme-promote-electric-vehicles-2024-09-11/?utm_source=openai))

What is the VIR Bike, and how does it contribute to enduring transportation?

The VIR bike is an electric cycle developed by VIR Mobility Pvt Ltd, designed to provide commuters with seamless and eco-pleasant transportation options. as part of the company’s commitment to sustainable personal mobility solutions, the VIR Bike offers an efficient option to traditional transportation methods, aligning with global efforts to reduce carbon emissions and promote green mobility. ([reuters.com](https://www.reuters.com/business/autos-transportation/india-allots-109-bln-rupees-scheme-promote-electric-vehicles-2024-09-11/?utm_source=openai))

What is the current state of electric vehicle adoption in India?

Electric vehicle (EV) adoption in India is on a gradual rise. In the financial year ending March 2024, the share of electric two-wheelers was at 5%. The share of EVs in two-wheeler sales rose from just 0.4% in 2020-21 to 5.4% by early 2023, led by rising subsidies and new launches. ([thehindu.com](https://www.thehindu.com/business/Industry/electric-two-wheeler-adoption-in-india-rising-13-share-expected-by-2026-27-jefferies-report/article68644654.ece?utm_source=openai))

What are the government’s initiatives to promote electric vehicles in India?

The Indian government has approved a ₹10,900 crore scheme over two years to promote electric mobility in the country.This initiative includes subsidies or demand incentives worth ₹3,679 crore to incentivize electric two-wheelers, three-wheelers, e-ambulances, e-trucks, and other emerging EVs. The scheme aims to support 24.79 lakh electric two-wheelers, 3.16 lakh electric three-wheelers, and 14,028 electric buses. ([thehindu.com](https://www.thehindu.com/business/Industry/electric-two-wheeler-adoption-in-india-rising-13-share-expected-by-2026-27-jefferies-report/article68644654.ece?utm_source=openai))