The ePlane Co, which is developing electric planes for intracity commute and cargo transportation, plans to take its technology to global markets such as the United States and Western Europe, according to the startup’s founders after announcing a $5 million pre-series A funding round.
“The aspiration is to push these (vehicles) to as many global markets as possible,” cofounder Pranjal Mehta said. “Initially, the ones (markets) that we’re targeting are similar in geography and diaspora, as India itself. This includes Southeast Asia, the Middle East, Africa and the southern Americas. And with time, we would like to launch this product into the American and Western European markets.”
He stated that commercialising these technologies is also a feature of certification, and as the company nears the launch of its vehicle, it is determining what certifications are required to commercialise the products in various global markets.
According to the company, the funding will help boost hiring, advance R&D, and continue to gain airworthiness provision and initiate certification for its products.
“So far, we’ve limited our engagement with governments in Singapore and India. And going forward, we will be engaging with the Middle Eastern governments,” Mehta said..
Speciale Invest, a deep-tech venture capital firm, and Micelio, an EV/Climate-focused fund, led this round. Naval Ravikant, 3one4 Capital, UTEC (University of Tokyo Edge Capital), Anicut Capital, Infoedge-backed Redstart Labs, EaseMyTrip cofounder Prashant Pitti, Thought Ventures, Java Capital, and Firstcheque are among the investors. vc also took part in the round.
The company, founded in 2017 and launched in 2019, aspires to build the world’s most compact flying taxi, called the e200, for passengers as well as cargo transport, which could help reduce road congestion, emissions from ground transportation, and the risk of road accidents.
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