Corrit Electric, electric vehicle startup has raised ₹5 crores in funding from Porush Jain, the founder of Sportskeeda.com.
The funds will be used in expanding operations and enhancing its research and development initiatives, said the company in release.
Mayur Misra, Director and CEO of Corrit Electric talking about the investment said, “We will be deploying the funds towards taking our much-awaited high speed last-mile delivery vehicle- Transit into production and enhancing our R&D capabilities. The company aims to be present in more than 25 cities in the next six months.”
Commenting on the investment, Porush Jain said “I have a keen interest in sustainability startups. I believe Corrit Electric has a good team and a great product in their flagship vehicle, the ‘Transit.’ Through customer research, focus on indigenous vendors, and a great design team, they tick all the boxes for me.”
Corrit Electric, is an EV manufacturing company based in Noida, the brand was founded by entrepreneur duo Mayur Misra and Nishan Kapoor. The brand’s portfolio includes Hover, Hover 2.0 and Hover 2.0+.