Electric Bikes | Miracle5
Miracle5 is a Pune-based, privately held Indian EV manufacturer founded in 2005 that designs, builds, and sells a seven-model lineup of electric bikes and scooters (240W–2000W BLDC) to daily commuters, students, delivery riders, and commercial users through its own showrooms, a small dealer network, and partnered financing.
- Company typePrivate
- Founded2005
- HeadquartersPune, India
- Headcount1–10
- GTM typeB2C
- OfferingHardware or Manufacturing
What Electric Bikes | Miracle5 does
Miracle5 is a Pune, India-based privately held manufacturer of electric two-wheelers (bikes and scooters), founded in 2005 by Mr. Bhushan Shah and operating through the legal entity Miracle5 Automobiles Pvt. Ltd. The company designs and builds a portfolio of seven electric models — Rame (FUTURA NX), Swirl, Rise, Race 70 Neo, Ride, S1, and Loader — using BLDC motor technology ranging from 240W (low-speed, license-free commuter models like Ride and S1) to 2000W (high-speed Rise at 70 km/h, license-required). Products feature portable/swappable batteries, anti-theft alarms, LED lighting, multiple speed modes, telescopic suspension, and aluminum-alloy wheels with disc brakes; the Loader targets commercial cargo transport with a 300 kg payload and 80–130 km range. FAME India approval for the Race 40 (2018) and an RTO-approved high-speed bike (2022) provide regulatory standing, and the company runs owned manufacturing (two units since 2020/21).
The company sells directly to consumers through its Pune flagship showroom and a small dealer network (three sale & service outlets by 2021), targeting daily commuters, students, delivery riders, and commercial/SMB cargo users in Maharashtra. Revenue is generated primarily through one-time hardware sales, supplemented by after-sales service (online spare parts, on-call and roadside assistance, complimentary check-ups) and customer financing arranged through partnerships with six lenders (IDFC First Bank, Bajaj Finserv, LoanTap, Kotak Mahindra, Punjab National Bank, Mannapuram). Distribution is supported by digital marketing (website, Instagram, Facebook, Twitter, LinkedIn) and a Rs. 499 test-ride booking funnel. Management remains founder/family-controlled (Bhushan Shah as Founder & CEO, Virat Shah as Managing Director, Jyoti Shah as Director), with no disclosed external institutional investment and a headcount in the low double digits.
Electric Bikes | Miracle5 firmographics
Firmographics- Name
- Electric Bikes | Miracle5
- Legal name
- Miracle5 automobiles pvt. ltd.
- Website
- https://miracle5.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Miracle5 is a Pune-based, privately held Indian EV manufacturer founded in 2005 that designs, builds, and sells a seven-model lineup of electric bikes and scooters (240W–2000W BLDC) to daily commuters, students, delivery riders, and commercial users through its own showrooms, a small dealer network, and partnered financing.
- Ownership category
- akta.pro rank
Electric Bikes | Miracle5 industry classification
Industry- Product category
- Electric Two-Wheelers
- NAICS
- Motorcycle, Bicycle, and Parts Manufacturing (336991)
- SIC
- Motorcycles, Bicycles & Parts (3751)
- akta.pro primary industry
- Electric Motorcycles & Electric Scooters Manufacturing (IMACAEAB)
- akta.pro secondary industry
- E-scooters & E-mopeds Manufacturing (IMACAOAB)
Keywords
Where Electric Bikes | Miracle5 is headquartered
LocationHeadquarters
- HQ city
- Pune
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Electric Bikes | Miracle5 business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Electric Vehicle Sales: Primary revenue from manufacturing and selling electric bikes and scooters directly to consumers through showroom and dealer network
- After-sales Service: Revenue from spare parts, service, and maintenance including online spare parts, on-call assistance, roadside assistance, and complimentary check-ups
- Financing Partnerships: Financial partnerships with banks and NBFCs generate referral revenue and enable customer purchases through financing options
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | One time | Test Ride - Rs. 499 booking fee |
| One time/ perpetual license | One time | Loader E-Bike - Heavy Duty |
| One time/ perpetual license | One time | S1 Electric Scooter |
| One time/ perpetual license | One time | Rise EV Bike - High Performance |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
Electric Bikes | Miracle5 product offering
Product offeringCore offering
Miracle5 manufactures and sells a lineup of electric two-wheelers (bikes and scooters) under its own brand, including models such as Rame (FUTURA NX), Swirl, Rise, Race 70 Neo, Ride, S1, and the Loader heavy-duty cargo bike. The company owns manufacturing units in Pune and sells through its own showroom, dealer network, and financing partners, targeting personal commuters, students, and small commercial operators in India.
Product overview
Miracle5 is an Indian electric vehicle company based in Pune that manufactures a portfolio of electric bikes and scooters. The product lineup consists of seven distinct models: Rame (FUTURA NX) as the flagship model, Loader for heavy-duty cargo transport with 300 kg capacity, Rise as the high-performance variant with 2000W motor and 70 km/h speed, Race 70 Neo and Swirl as electric scooters, and Ride and S1 as daily commuter bikes. The company has been pioneering India's EV culture since 2005, with manufacturing capabilities established in 2014 and FAME approval obtained in 2018.
Differentiator
Problem solved
Functional benefit
Products and services
- Rame (FUTURA NX) Flagship electric bike representing Miracle5's high-power, high-efficiency two-wheeler technology, targeting consumers seeking premium performance in an EV.
- Loader E-Bike Heavy-duty electric loader bike with 240W BLDC motor, 300 kg loading capacity, and 80-130 km range per charge, designed for transporting goods with zero emissions; intended for small business and last-mile delivery operators.
- S1 Electric Bike Low-speed electric bike for daily commuting, available in Lithium Ion and Jumbo Lithium Ion battery options, offering 70-130 km range per charge depending on battery configuration; license- and registration-free.
- Rise Electric Bike High-performance electric bike with a 2000W BLDC motor, 70 km/h top speed, and 90-100 km range per charge, featuring LED lights, digital LCD, reverse mode, and parking mode; requires license and registration.
- Race 70 Neo Electric Scooter Electric scooter offering 40-50 km range per charge, 200 kg loading capacity, extra leg room and boot space; designed for daily commuters and city riders.
- Ride Electric Bike Low-speed electric bike designed for daily commuting with a 240W BLDC heavy-duty motor providing smooth and quiet riding experience.
- Swirl Electric Bike Electric bike model from Miracle5's product lineup designed for personal urban transportation.
Quantifiable outcome
- Running cost: 1-2 units per charge (approximately Rs. 10-15 per full charge)
- +2 more outcomes
Companies that use Electric Bikes | Miracle5
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
Electric Bikes | Miracle5 technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Electric Bikes | Miracle5 partnerships and signals
Strategic signalScale indicators6 records
Recent moves6 records
Expansion highlights5 records
Electric Bikes | Miracle5 competitors and assessment
Company assessmentDirect peers
- Bounce Infinity: India-based electric scooter manufacturer with battery-swap technology targeting urban commuters and delivery fleets — directly comparable to Miracle5's Loader commercial use case.
- Ola Electric: India's most-funded electric two-wheeler player with national dealer/service network and vertically integrated manufacturing. Represents the scaled, well-capitalized competitor that frames Miracle5's strategic challenge.
- Hero Electric: One of India's largest electric two-wheeler manufacturers with a broad portfolio of low- and high-speed e-scooters. Directly competes with Miracle5 across price-sensitive commuter segments and benefits from national distribution.
- Okinawa Autotech: Indian electric two-wheeler manufacturer offering low- and high-speed scooters and motorcycles nationally. Comparable product breadth and price positioning to Miracle5.
- Revolt Motors: Electric motorcycle specialist (RV400) targeting Indian commuters seeking performance and tech features. Comparable to Miracle5's Rise high-performance positioning.
- Ather Energy: Premium electric scooter maker backed by Hero MotoCorp with strong R&D and connected-vehicle features. Competes for the higher-end urban buyer segment that Miracle5's Rise model targets.
- Ampere Electric: Greaves Cotton-owned electric scooter maker focused on affordable commuter EVs in India. Overlaps directly with Miracle5's low-speed, license-free product positioning.
Broad incumbents
- Bajaj Chetak Electric: Legacy OEM Bajaj Auto's electric scooter line with national dealer network. Represents the established incumbent expanding into Miracle5's category with scale advantages.
- TVS iQube: TVS Motor's electric scooter offering leveraging parent TVS's pan-India dealer network. Broad incumbent competitor with deeper capital and brand reach than Miracle5.
Emerging players
- Pure EV: Hyderabad-based electric two-wheeler startup with in-house battery technology. Comparable emerging Indian player competing for similar price-sensitive commuter segments.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Electric Bikes | Miracle5 social profiles
Digital presenceElectric Bikes | Miracle5 financial estimates
Financial estimateRevenue estimate
Valuation estimate
Electric Bikes | Miracle5 leadership team
Management profileNumber of profiles
Profiles3 records
Electric Bikes | Miracle5 funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Electric Bikes | Miracle5 M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Electric Bikes | Miracle5
What does Electric Bikes | Miracle5 do?
Miracle5 manufactures and sells a lineup of electric two-wheelers (bikes and scooters) under its own brand, including models such as Rame (FUTURA NX), Swirl, Rise, Race 70 Neo, Ride, S1, and the Loader heavy-duty cargo bike. The company owns manufacturing units in Pune and sells through its own showroom, dealer network, and financing partners, targeting personal commuters, students, and small commercial operators in India.
Is Electric Bikes | Miracle5 a public or private company?
Electric Bikes | Miracle5 is a private company. It is classified as family owned and is currently operating.
When was Electric Bikes | Miracle5 founded?
Electric Bikes | Miracle5 was founded in 2005. It employs 1 to 10 people.
Where is Electric Bikes | Miracle5 based?
Electric Bikes | Miracle5 is headquartered in Pune, India, in the Asia region.
How does Electric Bikes | Miracle5 make money?
Three revenue lines are on record. Electric Vehicle Sales are the primary driver. The others are after-sales Service and financing Partnerships.
Who are Electric Bikes | Miracle5's main competitors?
Direct peers on record are Bounce Infinity, Ola Electric, Hero Electric, Okinawa Autotech, Revolt Motors, Ather Energy and Ampere Electric. Broad incumbents are Bajaj Chetak Electric and TVS iQube. Pure EV is listed as an emerging player.
Does Electric Bikes | Miracle5 have an API?
No public API is recorded for Electric Bikes | Miracle5.
What industry is Electric Bikes | Miracle5 in?
Electric Bikes | Miracle5's product category is Electric Two-Wheelers. Its primary akta.pro industry code is IMACAEAB, Electric Motorcycles & Electric Scooters Manufacturing, with a secondary code of IMACAOAB, E-scooters & E-mopeds Manufacturing. Its NAICS code is 336991 and its SIC code is 3751.