Chennai: Chennai-based startup ePlane Company has secured $14 million in funding to develop electric vertical takeoff and lending (eVTOL) aircraft for urban transportation. The funding will be used to obtain certifications, accelerate commercialisation efforts, and expand technical capabilities.
ePlane aims to have its manned aircraft ready for flight testing by mid-2025, offering a sustainable solution to traffic congestion in cities.
ePlane Company’s $14 million funding was co-led by Speciale Invest and Antares Ventures, with participation from existing investors and notable names such as Micelio Mobility, Naval Ravikant, Java Capital, Samarthya Investment Advisors, Redstart (from Naukri), and Anicut.
The capital will be used for obtaining global regulatory certifications and accelerating its commercialisation efforts, the company said.
The funds will primarily support the development and certification of ePlane’s manned aircraft, with flight testing planned for mid-2025, it said.
The startup also plans to expand its technical capabilities, including the commercialisation of its drone technology through a wholly owned subsidiary.
Professor Satya Chakravarthy, Founder and Chief Executive Officer (CEO), said, “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, said, “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.”
The company has validated several key subsystems and expanded its intellectual property portfolio in the eVTOL aircraft space, it said, adding that the funding will enhance its prototyping and testing facilities to ensure alignment with global eVTOL standards.
It received design organisation approval (DOA) from the Directorate General of Civil Aviation last year, a major step in the aircraft certification process. The IIT Madras incubated air taxi startup expects to develop its certifiable prototype by March next year.
It hopes to commercialise compact electric planes that can easily navigate densely packed urban areas. These flying taxis will be operated by a human pilot and can carry two to four persons, up to 200 km on a single charge, according to the company.
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