The ePlane Company, an electric air taxi startup has raised $14 million in its Series B funding round co-led by Speciale Invest and Antares Ventures.
The round also saw participation from existing investors including Micelio Mobility, Naval Ravikant, Java Capital, Samarthya Investment Advisors, Redstart (from Naukri), and Anicut.
With this funding, ePlane is poised to become the largest-funded eVTOL player in India.
The fresh capital will be used to get global regulatory certifications and accelerate its commercialization efforts. The funds will primarily support the development and certification of ePlane’s manned aircraft, with flight testing planned for mid-2025.
In addition to expanding the company’s technical capabilities, the investment will help scale up the commercialization of ePlane’s drone technology through a wholly-owned subsidiary. Further, ePlane will enhance its state-of-the-art prototyping and testing facilities to ensure alignment with global eVTOL standards.
This funding brings the company’s total raised capital to $19.85 million. ePlane has previously raised $5.85 million, including a $5 million pre-Series A led by Speciale Invest and Micelio in 2022.
Since its previous funding round, ePlane has made substantial progress in its product development. The company has successfully validated several key subsystems and expanded its intellectual property portfolio.
Satya Chakravarthy, Founder, ePlane, said, “We are incredibly grateful to our investors for their continued support. This funding represents a major milestone for ePlane as we work to redefine urban mobility and lead the charge in India’s eVTOL sector. Our focus on safety, sustainability, and innovation will remain at the core of our strategy, and this investment will enable us to bring aerial mobility closer to reality. With our technological advancements and our committed team, we are paving the way for the future of urban transport.”
Vishesh Rajaram, Managing Partner at Speciale Invest, said, “ePlane has demonstrated exceptional leadership and innovation in the eVTOL space. Their commitment to solving urban mobility challenges through sustainable, tech-driven solutions is evident, and we’re thrilled to continue backing their vision. As pioneers in this space, ePlane’s impact on reshaping urban transport in India and beyond will be transformative.”
Founded by Satya Chakravarthy and incubated at IIT Madras in 2019, ePlane is a player in India’s electric vertical takeoff and landing (eVTOL) space.
ePlane focuses on developing compact, lightweight, and sustainable solutions for urban mobility.
The company’s flagship model, the e200x, aims to deliver intra-city commutes and cargo transport up to seven times faster, aimed at reducing traffic congestion in urban areas.
The Chennai-based startup has already secured Design Organisation Approval from the Directorate General of Civil Aviation (DGCA) of India last year, becoming the first private Indian firm to receive this certification for an electric aircraft. In September, the Ministry of Civil Aviation issued specific requirements that Vertical take-off and landing (VTOL) aircraft must meet to obtain Type Certification (TC).
