ePlane Co., a Chennai-based electric air taxi startup, has secured $14 million in its Series B funding round, co-led by Antares Ventures and Special Invest. The company plans to begin manned air taxi testing by mid-2025, according to a statement issued by the startup.
With the aim of transforming urban transportation, ePlane is focused on creating an “all-electric zero-emission air taxi.” The compact eVTOL (electric vertical takeoff and landing) aircraft is designed to help ease traffic congestion and provide faster intra-city commuting solutions, all while prioritizing sustainability.
Founded in 2019 by Professor Satya Chakravathy and incubated at IIT Madras, ePlane will use its new funding to secure global regulatory certifications, improve testing facilities, and speed up the commercialization of its eVTOL aircraft.
In October, the United States Federal Aviation Administration (FAA) introduced new training and pilot certification rules for Advanced Air Mobility (AAM), which includes air taxis and cargo delivery systems operating in both urban and rural areas. “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,” said FAA Administrator Mike Whitaker.
These new rules tackle a significant barrier for the commercial launch of air vehicles like those being developed by ePlane.
ePlane is not the only company vying for a spot in the air taxi market. Sarla Aviation, another player in the industry, plans to offer air taxis that are cheaper and faster than traditional ride-hailing services like Uber for city travel. California-based Archer Aviation, FAA-certified and backed by Boeing, has announced its intention to begin operations in India by 2026 and has already partnered with InterGlobe Enterprises, the parent company of IndiGo.
