The Economic Times of India that reports eVTOL company The ePlane Company “is looking to raise around USD40-50 million through a round that combines equity, convertible instruments and proposed government-backed research, development and innovation (RDI) support, multiple people aware of the matter told ET.”
The ePlane Company, based in IIT Madras, is developing an all-electric, zero-emission air taxi e2000X eVTOL “which targets mid-mile urban air mobility, addressing congestion and pollution in cities, with potential across the USD1 trillion plus global UAM market,” said the company on its website. “ePlane holds the Synergistic Lift patent in eight countries and is the first private Indian company to receive Design Organisation Approval (DoA) from India’s DGCA for an electric aircraft. e200X’s type certification is already under progress since December 2024.”
According to the Economic Times, “Deeptech investor Speciale Invest is in discussions to co-lead the private round, along with other investors, they added…. This will be followed by a growth capital infusion, the final size of which will depend on the outcome of its application for the Rs 1 lakh crore RDI Fund, sources said.”
For more information
https://economictimes.indiatimes.com/tech/funding/air-taxi-startup-eplane-eyes-40-50-million-round-speciale-invest-co-leads/articleshow/128685403.cms?from=mdr&utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
(Image: ePlane)