The ePlane Co., a Chennai-based electric air taxi startup, raised $14 million in a Series B funding round announced Thursday, co-led by Antares Ventures and Special Invest. The startup plans to implement manned air taxi testing by mid-2025, the company said in a statement.
With the goal of turning flying cars into reality, ePlane aims to revolutionize the transportation industry with its “all-electric zero-emission air taxi.” Designed as one of the most compact eVTOL or electric vertical takeoff and landing aircraft, the startup aims to address traffic congestion and faster intra-city commute with sustainable solutions.
Founded by Professor Satya Chakravathy in 2019 and incubated at IIT Madras, ePlane’s latest funding will be used to achieve global regulatory certifications, enhance testing facilities, and accelerate the commercialization of eVTOL aircraft.
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In October, the United States’ Federal Aviation Administration (FAA) rolled out its latest comprehensive training and pilot certification rules for Advanced Air Mobility (AAM) which includes air taxis, cargo delivery within urban and rural airspace.
“Powered-lift aircraft are the first new category of aircraft in nearly 80 years and this historic rule will pave the way for accommodating wide-scale AAM operations in the future,” FAA Administrator Mike Whitaker said in a statement.
These new rules address a key hurdle to the deployment of commercial air vehicles like the ones being produced by ePlane.
This isn’t the first effort for the U.S. and India to synergize on aerial projects — earlier this month, U.S.-based startup Axiom Space announced it was considering Indian launch vehicles to support its international space station mission.
ePlane has various contenders in the air taxi industry such as Sarla Aviation which plans to offer air taxis cheaper and more timesaving than Uber cabs for intra-city travel.
California-based FAA-certified Archer Aviation, backed by Boeing, said it plans to start its India operations by 2026 and has already partnered with InterGlobe Enterprises, the parent company of popular Indian airline IndiGo.