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TCab Tech closes Series A financing with additional USD20 million

TCab Tech announced recently that it has raised an additional USD20 million in its Series A financing. The company says the exclusive investment comes from a strategic investment fund which plans to introduce the air-taxi application in the Middle East region.

“TCab’s passenger-carrying E20 eVTOL is a tilt-rotor configuration, a 5-seater (1pilot+4pax) equipped with six rotors, four tilt and two lift rotors, and a high gull-wing with a conventional tail plane design” according to the press release. “The eVTOL targets a maximum design range of 200km, and a cruising speed of260km/hour. It is most efficient for commuting between 30 – 150km.

“Apart from China which has been identified by many reports as the single largest market for air-taxi application, TCab Tech also believes that there are strong demands for the E20 eVTOL in the Middle East, Southeast Asia, and the “Belt and Road” regions because these fast-developing regions would benefit from integrating air-taxis into their transportation infrastructure for aerial-sightseeing and inter-city travel.

“With this financing, TCab Tech intends to accelerate the development of E20 aircraft and airworthiness certification goals and ultimately, the commercialisation of theE20 eVTOL.”

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(Image: TCab Tech)

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