EV manufacturing startup Corrit Electric raised Rs 5 Cr from Porush Jain

Porush Jain has contributed Rs 5 crore to the electric vehicle startup Corrit Electric.

Prior to this, the startup declared that its Series A funding round had brought in $9 million.

The company plans to grow operations and advance its R&D projects with the additional funds. The startup says it will be laser-focused on its Transit vehicle over the next three to six months.

Mayur Misra and Nishan Kapoor founded Corrit Electric, which creates modern EVs with sustainable solutions to address contemporary issues.

The company’s first product, the Hover bike, was released to mark the beginning of its operations. The company went on to create the Hover 2.0 and Hover 2.0+, two more scooter versions that included substantial improvements.