Corrit Electric, a new startup based out of Gurugram, has bagged Rs 5 crore in an extension of its Series A round.
The funding came from Ex Sportskeeda founder and CEO Porush Jain. Jain exited Sportskeeda in 2022 after Nazara bought a majority stake in his company.
Earlier the company, which produces ‘Hover’ range of electric vehicles raised $9M in its Series A round. The round was led by early-stage venture capital fund SphitiCap.
The company plans to use the additional funds to grow its operations and advance its R&D projects. The business promises to concentrate intently on its Transit car over the following three to six months.
Corrit Electric was founded by Mayur Misra and Nishan Kapoor to provide modern EVs that address contemporary issues while also providing sustainable solutions.
The company began by introducing the Hover, the first fat tire bike ever manufactured. The company went on to create two more, much upgraded versions of this scooter, called Hover 2.0 and Hover 2.0+.