Velvioo aims to provide Yerevan, and other small-to-medium sized cities, with effective, sustainable, and economical transportation through programs that include bicycle, electric bicycle, electric scooter, and car sharing. The founders also hope to reduce urban citizens' reliance on cars through providing more intelligent parking identification and promoting increased public transportation use. As of Summer 2019, Velvioo has officially launched Yerevan Ride, a bike sharing program that provides Yerevan residents and tourists with economical, eco-friendly, and well-designed bicycles to rent for short trips.
Smart Transport Systems: Small-to-medium sized cities such as Yerevan are plagued by an increasing volume of cars on their streets – leading to more congestion, reduced economic productivity, and higher greenhouse gas emissions. Velvioo is aiming to decrease this economic and environmental burden through their innovative tech solution.
Participant in the UNDP ImpactAim Climate Change Tech Accelerator 2019 .Velvioo’s customers can use a mobile app to unlock well-designed and safe bicycles and electric bicycles from anywhere, ride them for up to 45 minutes, and then place them back anywhere - all for a very economical price. This concept is new to the Armenian market, as well as other small-to-medium sized cities. The global innovation will be delivered when Velvioo launches intelligent parking identification and car sharing capabilities within the same integrated application– creating one mobility application for urban citizens. The Business Value:
Initially, the core product/service provided is a bicycle and electric bicycle sharing program. Velvioo currently serves the roughly 400,000 18-35 year old’s residing within Yerevan, as well as tourists that have existing knowledge of similar bike-sharing programs from other large cities. Additionally, Ameriabank has been secured as the key sponsor for Yerevan, with the hope to attain others in the near future. The Social Value:By working to reduce urban congestion, Velvioo aims to stimulate economic activity, improve environmental health, and enhance tourist experiences. They therefore provide benefit to Armenian cities, citizens, and foreign visitors. Further, many Armenian media sources have discussed the growing demand for alternate modes of transportation, such as bicycles, and Velvioo fulfills that demand with Yerevan Ride. This venture is mapped with:
Year founded: 2018
Locations: Yerevan, Armenia
Sector: Smart Transport System
Core Team
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