ePlane seeks to capitalize on the Indian government's interest in air taxis with a new $14 million funding round.

The increase in private vehicle ownership and the decline in public transportation and non-motorized transport usage have contributed to a growing traffic congestion problem in India, the most populous country in the world. This challenge is exacerbated by the narrow streets and inadequate parking facilities in urban areas. In response to this situation, New Delhi has been seeking alternatives to address these issues swiftly.

India's Prime Minister Narendra Modi announced at an event in September that air taxis will soon be a "reality in India," reflecting the government's interest in this new mode of transportation. Additionally, the Directorate General of Civil Aviation of India has recently outlined rules for vertiports, thus laying the groundwork for the operation of air taxis.

Within this context, ePlane Company, a startup founded in 2019 by aerospace engineering professor Satya Chakravarthy from IIT Madras, is developing an electric vertical takeoff and landing vehicle (eVTOL) called e200x. This model was conceived months after the company ventured into developing unmanned drones for cargo and camera applications. Chakravarthy, who is also a co-founder and advisor of Indian startups in the space sector, such as Agnikul and GalaxEye, explained that ePlane has secured intellectual property rights in creating aircraft focused on urban transport and cargo, with a relatively low flight speed and a compact wingspan of 8 meters, unlike typical air taxis that range from 12 to 16 meters. This feature will allow them to land in restricted spaces and make multiple short trips, up to 60 in a single day on one charge. According to their estimates, this could reduce travel time by up to 85%, and the cost would not exceed double what is currently paid for an Uber ride.

Most eVTOL vehicles available on the market are multicopters, similar to commercial drones, which use vertical rotors and propellers. However, ePlane has opted for a more conventional takeoff design that combines wings like a typical airplane with vertical rotors. This configuration has proven reliable in maintaining lift during the transition between vertical takeoff and forward flight. Additionally, the company has developed a technology called "synergistic lift," which allows the vertical rotors to operate even during forward flight, optimizing wing design.

Chakravarthy revealed that ePlane produces aerospace components in its facility at IIT Madras, handling parts of the fuselage, as well as the design of seats and propellers. Although the startup outsources the production of cells, it assembles the batteries at its facilities to manage the aircraft's center of gravity. Its goal is to commercially launch the electric air taxi between mid and late 2026, after obtaining the necessary certifications from Indian and global authorities and completing prototypes in the first half of 2025. To finance this project, ePlane has secured a $14 million Series B funding round, co-led by Speciale Invest and Antares Ventures from Singapore, with additional participation from various companies and investors. This capital injection has raised the startup's valuation to $46 million, more than double its previous valuation of $21 million, allowing it to advance its certification and global commercialization efforts. Success in India could open doors for ePlane in markets such as the Middle East, Southeast Asia, Australia, and Europe. Chakravarthy concluded by stating that what benefits India could also benefit the rest of the world.