Image Credits: The ePlane Company

The ePlane Company, a Chennai-based electric aircraft startup that intends to transform urban transportation by moving goods and people by air, has raised USD 5 million in a Pre-Series A funding round co-led by Speciale Invest and Micelio on 10 January 2022.

Investors: Speciale Invest and Micelio co-led the latest funding round with participation from Naval Ravikant, 3one4 Capital, UTEC (University of Tokyo Edge Capital), Infoedge, Java Capital, Anicut Capital, Thought Ventures, Prashant Pitti (Co-Founder of Easemytrip),

The Objectives behind the funding: The company plans to deploy the current proceeds towards talent hiring, R&D, building prototypes and necessary certifications.

About The ePlane Company

Image Credits: The ePlane Company

Founded in 2017 by Satya Chakravarthy and Pranjal Mehta, The ePlane Company develops flying electric taxis with the aim to transform urban transportation by moving goods and people by air. The company is on a mission to eradicate waiting in traffic. The startup also aims to help expand the ecosystem around electric aircraft design and manufacturing. 

The ePlane Company is building an electric flying taxi, e200, for 10X faster door-to-door travel at just 1.5X taxi fare. It takes off like a drone & flies like a plane. The company has already test flown a lab-scale prototype. It is on course to do a full-scale prototype in April this year.

What the Founders have to say:

Pranjal Mehta, Co-Founder of The ePlane Company, said, “The USP is that we are making the most compact flying taxi in the world, which has a hybrid design that uses both rotors and wings, and a subscale prototype that enables it to fly slower than e-planes with compact wings would normally require. Further, our product will not have any dedicated infrastructure requirements and can make the city commute ten times faster at just 1.5 times the taxi fare.”

Adding to this, Satya said, “We have currently tested a scaled-down prototype and expect to have our first cargo plane ready as early as next year. The cargo carrier is expected to be rolled out by February 2023; the passenger version is expected by December 2024.”

What the Investor has to say:

On funding the startup, Vishesh Rajaram, managing partner, Speciale Invest, said, “The ePlane Company is one of the unique companies with the vision to create technology that will make India self-sufficient. It aligns with our vision of backing disruptive companies solving global problems via tech innovations very well.”

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Manish writes about the startup ecosystem on VCBay. He is pursuing Master of Commerce from Delhi School of Economics, University of Delhi, and is passionate about the world of finance, information technology & entrepreneurship.


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