The ePlane Company raises USD5 million in funding, cargo carrier expected to be rolled out by Feb 2023
The Hindu
The company aspires to build the world's most compact flying taxi, called the e200, for passengers, as well as cargo transport
The ePlane company that is betting on eradicating traffic by building electric planes for short-range intra-city commutes, has raised $5 million in a pre-series A round. The investment is led by deep-tech venture capitalist Special Invest and EV/climate focused-fund Micelio. A consortium of investors including Naval Ravikant, 3one4 Capital, UTEC (University of Tokyo Edge Capital), Anicut Capital, Infoedge, Prashant Pitti (co-founder of Easemytrip), Thought Ventures, Java Capital, and Firstcheque.vc also participated in the round.
The company said the fresh lease of funds would help bolster the hiring of top-tier talent, advance R&D, and help it continue to gain airworthiness provisions and initiate certification.
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