ePlane Company, an Indian electric aircraft startup, signed a deal on Monday to supply 788 air ambulances in a deal worth $1 billion. Under the non-binding agreement, it will supply the electric vertical takeoff and landing (eVTOL) aircraft to ICATT, an air ambulance service provider, which plans to deploy them across all districts in India.
eVTOLs use battery powered aircraft, which can take off and land vertically, making transport easier through congested areas. India’s nascent eVTOL market also includes Archer Aviation, and Sarla Aviation. Sarla Aviation also plans to offer air taxis cheaper and more timesaving than Uber cabs for intra-city travel, while Archer aviation–which is based in California, and 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.
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“We can ramp up our production and put things into the market to good use much more effectively with an air ambulance than directly going to an air taxi. It’s possible for us to ramp up air ambulances a lot more organically, compared to having to rush with an air taxi,” said ePlane’s Founder Satya Chakravarthy who is also a professor at IIT Madras.
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Founded in 2019 by Chakravarthy and incubated at IIT Madras, the Chennai-based startup had raised $14 million in a funding round back in November 2024. The funding was co-led by Antares Ventures and Special Invest.
Reportedly, ePlane will start with three prototypes of the ambulances, accommodating a pilot, a paramedic and a patient along with a stretcher. The aircraft would have an initial range of about 110 kilometers (68.4 miles), which can later be increased to more than 200 kilometers. According to Chakravarthy, another $100 million would be required to manufacture more prototypes in other forms, achieve type certification and begin commercial production.