Comments
Flying taxi startup ePlane Company has raised a $14 million funding round co-led by Speciale Invest and Antares Ventures, with continued participation from Micelio Mobility, Naval Ravikant, Java Capital, Samarthya Investment Advisor, Redstart (from Naukri), and Anicut.
With this funding, ePlane is poised to become India’s largest eVTOL player.
The new capital will be important for global regulatory certifications and accelerating commercialisation efforts. The funds will primarily support developing and certifying ePlane’s manned aircraft, with flight testing planned for mid-2025. In addition to expanding the company’s technical capabilities, the investment will help scale up ePlane’s drone technology commercialisation through a wholly owned subsidiary. Further, ePlane will enhance its state-of-the-art prototyping and testing facilities to ensure alignment with global eVTOL standards.
Professor Satya Chakravarthy, Founder and CEO of ePlane, said, “We are incredibly grateful to our investors for their continued support. This funding represents a major milestone for ePlane as we work to redefine urban mobility and lead the charge in India’s eVTOL sector. Our focus on safety, sustainability, and innovation will remain at the core of our strategy, and this investment will enable us to bring aerial mobility closer to reality. With our technological advancements and our committed team, we are paving the way for the future of urban transport.”
Vishesh Rajaram, Managing Partner at Speciale Invest, commented, “ePlane has demonstrated exceptional leadership and innovation in the eVTOL space. Their commitment to solving urban mobility challenges through sustainable, tech-driven solutions is evident, and we’re thrilled to continue backing their vision. As pioneers in this space, ePlane’s impact on reshaping urban transport in India and beyond will be transformative.”
The company is set to develop its first manned prototype of its e-VTOLs (electric vertical take-off and landing) vehicles and begin manned trials by April 2025, according to news report.
In January 2022, the startup announced that it had raised $5 million in pre-series A funding led by deep-tech venture capitalist Speciale Invest and clean mobility fund Micelio.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.