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The Eplane Company Raises $5 Million Funding From Speciale Invest, Micelio, Others

Jan 10, 2022•over 3 years ago

Amount Raised

$5 Million

Delhi

Description

New Delhi: The ePlane Company on Monday said it has raised $5 million (about Rs 37 crore) in funding led by deep-tech venture capitalist Speciale Invest and EV/climate-focused fund Micelio.

Company Information

Company

The E Plane Company

Location

Delhi, Delhi, India

About

The company aspires to build the world's most compact flying taxi called the e200 for passengers as well as cargo transport that could help reduce congestion on the roads and emissions from ground transport and lower the risk of road accidents. The startup has already test flown the lab-scale prototype of the e200 and is on course to do a full-scale prototype in April 2022. The startup raised $1 million in its seed round of funding in March last year. Currently, the startup has a team of 36 people. Satya Chakravarthy, cofounder of The ePlane Company, said the company has tested a scaled-down prototype and expects to have its first cargo plane ready as early as next year.