Aerial Mobility provider The ePlane Company raises $5 million in Pre Series A round of funding
- ByTejika Bajaj | January 11, 2022
The aerial mobility solutions provider the ePlane Company has recently revealed that it has raised a sum of $5 million through its Pre Series A round of funding led by venture capitalist Speciale Invest and EV focused fund Micelio.
The round also saw participation from a series of noteworthy investors including Naval Ravikant, 3one4 Capital, UTEC (University of Tokyo Edge Capital), Anicut Capital, Infoedge, Prashant Pitti (co-founder of Easemytrip), Thought Ventures, Java Capital, and Firstcheque.vc.
Talking about the mission and ideology behind the startup, the co-founder of The ePlane Company, Pranjal Mehta said, “Our mission has always been to explore efficient, safer, and carbon-neutral mobility solutions. With eplane, we intend to construct electric planes for intra-city transportation. The USP is that we are delivering the most compact flying taxi in the world which has a hybrid design that utilizes both rotors and wings and a subscale prototype which enables it to fly slower than e-planes with compact wings would normally require. Further, our product will not have any dedicated infrastructure requirements and can make the city commute ten times faster at just 1.5 times the taxi fare.”
Founded in 2017 by the aerospace engineering professor Satya Chakravarthy and his dedicated pupil Pranjal Mehta, The ePlane Company is a mobility solutions provider that intends to create the world’s most compact flying taxi. The startup focuses on building mobility solutions which are compact, sustainable and eco-friendly. Through its cargo transport the startup aims to reduce congestions on road and carbon emissions significantly.
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