Chennai-based The ePlane Company raises $14 million in funding

The ePlane Company, a Chennai-based startup focused on electric vertical takeoff and landing (eVTOL) vehicles, has raised $14 million in a Series B funding round.

The funding was co-led by Speciale Invest and Singapore’s Antares Ventures, with participation from Micelio Mobility, Naval Ravikant, Java Capital, Samarthya Investment Advisors, Redstart, and Anicut. 

The latest investment values the company at $46 million, up from its previous valuation of $21 million.

What does The ePlane Company do?

India’s urban centres face significant traffic challenges due to narrow roads and a high number of private vehicles, which results in frequent congestion.

Recognizing these issues, the Indian government, including Prime Minister Narendra Modi, has voiced support for innovative transportation solutions. In September, Modi emphasized that air taxis “will soon be a reality in India.”

Additionally, the Directorate General of Civil Aviation (DGCA) has taken steps to regulate vertiports, further enabling air taxi development.

ePlane, founded in 2019 by IIT Madras aerospace engineering professor Satya Chakravarthy, is among the companies capitalizing on this government push.

The startup’s flagship eVTOL vehicle, the e200x, is designed to reduce travel times by as much as 85% for urban commuters and offers a lift-plus-cruise configuration, differentiating it from other air taxis that operate as multicopters. The configuration, which is inspired by traditional aircraft but with vertical rotors for lift, allows for efficient short-distance travel on a single battery charge.

A compact design for urban mobility

Unlike larger air taxis with wingspans of 12 to 16 meters, ePlane’s e200x features a more compact 8-meter wingspan, allowing it to operate in tighter urban spaces.

According to Chakravarthy, the e200x’s design enables it to make up to 60 short trips per day, with fare estimates expected to be slightly less than double the cost of current Uber fares.

This compact model is intended to support intra-city transport, allowing faster and more affordable transit options.

“The configuration has proven reliable because it provides redundancies in terms of the vertical rotors carrying the weight while wings balance it during forward flight,” Chakravarthy said.

The e200x also uses a proprietary “synergistic lift” technology that maintains lift even in forward motion, enhancing its stability and efficiency in urban routes.

Purpose of fundraising

The fresh capital will help ePlane ramp up production, expand testing facilities, and pursue regulatory approvals.

With over 100 employees, the startup plans to begin testing its manned eVTOLs by mid-2025, aiming to launch commercial air taxi services in India by 2026, pending DGCA certification and global regulatory approvals.

This timeline aligns with a broader vision of launching the technology in other global markets, including Southeast Asia, Australia, the Middle East, and Europe.

“Our investors’ continued support is invaluable as we work to redefine urban mobility in India’s eVTOL sector. Our commitment to safety, sustainability, and innovation will bring aerial mobility closer to reality,” Chakravarthy added.

Potential to scale beyond India

ePlane’s international ambitions were further highlighted by Vishesh Rajaram, managing partner at Speciale Invest, who said that the company has made “transformative” strides in addressing India’s urban mobility challenges through sustainable and tech-forward solutions.

“We’re thrilled to back their vision as ePlane pioneers urban transport in India and beyond,” he said.