Corrit Electric
A cutting-edge EV manufacturing firm.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | $600k Valuation: $45.0m | Angel | |
| Total Funding | 000k | ||
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Founded in 2019, Corrit Electric specializes in manufacturing multi-purpose electric two-wheelers (E2Ws) designed for both urban and rural environments. The company's flagship product, the Transit, is India's first truly multi-purpose E2W, built to meet the diverse needs of commercial B2B applications. Corrit Electric operates in the electric vehicle market, focusing on providing reliable, economical, and robust transportation solutions. The company serves a wide range of clients, including businesses and individual consumers, who require dependable and versatile electric vehicles. Corrit Electric generates revenue through the sale of its electric two-wheelers and related services, including the Corrit App, which offers real-time data and updates on various vehicle parameters. With manufacturing units in Greater Noida, Uttar Pradesh, and Palwal, Haryana, and a distribution plan covering 23 states and 100 cities, Corrit Electric aims to become a leading player in the Indian E2W industry. The company is backed by established investors such as the Times Group and SphitiCap, and plans to roll out its first batch of vehicles by August 2024, with 50 dealers by March 2025.
Keywords: electric two-wheelers, multi-purpose, B2B applications, robust design, economical, urban and rural, manufacturing, distribution, real-time data, Indian market.