The ePlane Company, India’s 1st flying electric taxi for up to 10x faster commute & cargo transport has secured $ 14 million funding Series B round Co-led by Speciale Invest and Antares Ventures, with participation from Micelio Mobility, Naval Ravikant, Java Capital, Samarthya Investment Advisor, Redstart (from Naukri), and Anicut.
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The funding will enable the startup to achieve international certification and support the company’s commercialization agenda.
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A portion of the funds will also go into certifying its manned aircraft in its plan, with the flight testing set to start in mid-2025. It also wants to ramp up its drone capabilities through a new wholly-owned subsidiary and its prototyping and testing capabilities to align with global electric vertical takeoff and landing (eVTOL) standards.
“This funding is an important milestone as we move forward with our vision for urban mobility and aim to lead India’s eVTOL sector,” Satya Chakravarthy, founder and CEO of The ePlane Company, told Inc42. “Safety, sustainability, and innovation remain central to our strategy, and this investment will help us bring aerial mobility closer to reality.”
The decision will depend on the success and extent of the commercialization activities in the next few months. Moreover, The ePlane Company will proceed with certification for its manned eVTOL aircraft, intending to serve the air taxi and air ambulance markets.
“Revenue is important, but our priority is to stay ahead in the race to develop air taxi technology. This requires substantial investment, which we’ll raise as needed,” Chakravarthy said.
ePlane Company, a start-up at IIT Madras, plans aerial transport with an electric flying vehicle for urban travel using an all-electric, zero-emission air taxi designed for one of the eVTOL compact aircraft. This solution aims at mid-mile urban air mobility to solve traffic and emissions issues in cities, with applicability to the greater than $1 trillion global UAM market.
ePlane has patents and is the first private Indian company to be granted Design Organization Approval (DoA) by India’s DGCA for an electric aircraft. Being smaller compared to the first generation, it provides long-range flights at lower velocities with the assistance of powered-down vertical rotors.
As an urban air mobility (UAM) startup, The ePlane Company aims to alleviate on-road traffic congestion in cities worldwide by offering safe, sustainable, and affordable flying experiences through its flagship product, the ePlane e200.
About The ePlane Company
Prof. Satya Chakravarthy established the team in 2019, and The ePlane Company now has more than 100 members, 5 of whom hold a PhD and more than 20 who have a master’s degree from the most prestigious universities. The firm is currently conducting feasibility, engineering, and regulatory analyses on a cargo plane for metro cities along with its air taxi from FY 2024. Currently, it will be piloted and will be autonomous as the laws allow.
