ePlane Co Secures $14 Million to Revolutionize Urban Mobility with Air Taxis, Targets Testing by 2025

India's electric air taxi pioneer, The ePlane Company, has raised $14 million in a Series B funding round, aimed at accelerating the development and certification of its manned electric vertical takeoff and landing (eVTOL) aircraft. The investment round, co-led by Speciale Invest and Antares Ventures, values the Chennai-based startup at $46 million—more than double its valuation of $21.2 million in December 2021.

This latest funding takes ePlane's total raised capital to $19.85 million, which will support the ambitious goal of initiating manned air taxi testing by mid-2025. The eVTOL aircraft designed by ePlane offers a solution to urban traffic congestion, providing commuters with a faster, cleaner alternative to road travel. With India's crowded metropolitan areas, the need for innovative transport options is clear, and eVTOL technology presents an affordable choice for city dwellers looking to avoid hours spent in traffic.

In 2023, the global air taxi market was valued at $2.3 billion and is anticipated to grow to $14 billion by 2032, according to Global Market Insights. This growth highlights the substantial demand and market potential for eVTOL technology. Rivals like Sarla Aviation are already making strides, aiming to offer competitive pricing and travel times. For instance, Sarla’s flying taxis are projected to cover the 38-kilometer route from Bengaluru airport to eCity in just 19 minutes for about $21—a cost lower than typical ride-hailing cabs, which can take over two hours and cost around $30 with surge pricing.

Air taxi initiatives are gaining momentum globally. Archer Aviation, backed by Boeing, has also set sights on India, with plans to launch by 2026 in partnership with InterGlobe Enterprises, which supports India’s leading airline, IndiGo. Regulatory advancements are being made in the U.S., where the Federal Aviation Administration (FAA) recently finalized comprehensive rules for training and certifying air taxi pilots, marking a critical step toward integrating air taxis into mainstream travel.

ePlane's groundbreaking work in eVTOL technology positions it as a key player in the future of urban mobility, offering India an innovative solution for addressing traffic congestion and enabling efficient, eco-friendly travel.