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High Mileage Flying Taxi Startup, EPlane.ai, Raised $5M

February 3, 2022
3 mins

We're thrilled to share that ePlane.ai has raised $5 Million from 3one4 Capital, Speciale Invest, Micelio Mobility, UTEC, and InfoEdge, with participation from Naval Ravikant and Anicut Capital.

ePlane.ai designs eVTOL (electric-Vertical Takeoff & Landing) aircraft for Cargo & Passenger Transport, tackling problems in UAM (Urban Air Mobility).​​ eVTOL (electric vertical takeoff and landing) solutions are designed for urban aerial mobility and can cater to both passengers and cargo. eVTOL businesses see themselves as manufacturers and operators, unlike existing aircraft businesses such as Boeing. The eVTOL market has emerged over the last decade through improvements in material science, battery technology and propulsion systems. Other systemic factors like crowded cities and climbing demand for last mile logistics have provided impetus to support innovation in this space.

ePlane.ai is building high mileage flying EVs for point to point travel in cities. This craft is expected to be the most compact eVTOL in the world, making it suited for intra-city mobility while being affordable for mass-market adoption. ePlane is the brainchild of Satya Chakravarthy, Professor of Aerospace Engineering at the IIT Madras, and Pranjal Mehta who previously ran a helicopter taxi business called UrbanX in India. The duo founded the company to tackle the inefficiencies in cargo and passenger transportation, reduce congestion on the roads and emissions from ground transport, and lower the risk of road accidents. They built a proof-of-concept device that is also the world’s most compact flying taxi.

ePlane plans to utilize the funds to expand their team, advance R&D and continue to gain airworthiness provisions and initiate certifications. The company also intends to introduce the technology to global markets. With drone regulations easing up, there is potential for ePlane to generate early fit in the cargo segment as well.

3one4 is committed to supporting breakthrough innovation coming out of India, and we’re excited to join ePlane in their journey of building a truly category-defining company that will design critical infrastructure to support this rapidly growing economy.

Read More: https://bit.ly/34wSEPr

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