EV manufacturing startup Corrit Electric raises Rs 5 Cr

Corrit Electric, an electric vehicle startup, has raised Rs 5 crore in funding from Porush Jain.

Previously, the startup announced that it raised $9 million in its Series A funding round.

The fresh proceeds will be used to expand operations and further its research and development initiatives. During the next 3-6 months, the startup claims to have a sharp focus on its Transit vehicle.

Founded by Mayur Misra and Nishan Kapoor, Corrit Electric offers sustainable solutions and produces contemporary EVs designed to solve modern-day problems. 

The brand started its operations by launching the first produced fat tire bike – Hover. The brand then developed two additional variants of this scooter – Hover 2.0 and Hover 2.0+- with significant upgrades.