Shanghai Shidi Technology Co has announced the completion of 100 million RMB Pre-A round of financing to support the development of its five seat TCab Tech E-20 eVTOL. This round of financing was led by Yuanyi Investment, Kunlun Capital, KIP Capital , and old shareholders LanRun Ventures and Kuehne & Schneider followed suit.
According to the company:
“E20 is the first 5-seat tilt-rotor eVTOL in China designed by Shide Technology. It has a series of design advantages such as vertical take-off and landing, zero carbon emission, high safety, low operating cost, and low noise.”
“The company will continue to increase investment in research and development, dig deep into the “moat” of the enterprise, and comprehensively build an air traffic ecosystem centered on tilting eVTOL .
Huang Yongwei, founder and CEO of Time Technology, said: ” Time Technology is still in the accumulation and research and development stage, and the team will continue to uphold the truth-seeking and pragmatic attitude, focus on the commercialization of manned eVTOL , and focus on creating air travel with high commercial value The means of transportation will help the development of China’s comprehensive three-dimensional transportation .”
“As of the end of January 2023 , the company has successfully completed the ground test, wind tunnel test and tilt transition flight test of the 25% and 50% scaled verification aircraft. Prototypes are validated and iterated, designs are complete, and manufacturing is underway.
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