Antares Ventures and Special Invest co-led a $14 million Series B investment round announced Thursday for the Chennai-based electric air taxi startup, The ePlane Co. According to a statement from the startup, manned air taxi testing will be implemented by the middle of 2025.
With its “all-electric zero-emission air taxi,” ePlane hopes to transform the transportation sector and bring flying automobiles to reality. Constructed as one of the smallest electric vertical takeoff and landing (eVTOL) aircraft, the firm seeks to provide sustainable solutions for a quicker intra-city commute and traffic congestion.
ePlane, which was founded in 2019 by Professor Satya Chakravathy and developed at IIT Madras, will use its most recent funding to improve testing facilities, obtain international regulatory certifications, and hasten the commercialization of eVTOL aircraft.
The most recent thorough training and pilot certification guidelines for Advanced Air Mobility (AAM), which covers air taxis and cargo delivery in both urban and rural airspace, were released by the US Federal Aviation Administration (FAA) in October.
In a statement, FAA Administrator Mike Whitaker stated, “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,”
A major obstacle to the deployment of commercial air vehicles, such as those being manufactured by ePlane, is addressed by these new regulations.
The U.S. and India have already attempted to collaborate on aerial projects; earlier this month, the U.S.-based startup Axiom Space declared that it was thinking at using Indian launch vehicles to assist with its international space station mission.
Sarla Aviation, one of ePlane’s competitors in the air taxi market, intends to provide air taxis that are less expensive and require less time for intra-city travel than Uber cabs.
Boeing-supported Archer Aviation, a California-based FAA-certified airline, stated that it has already collaborated with InterGlobe Enterprises, the parent company of well-known Indian airline IndiGo, and intends to begin operations in India by 2026.
