The ePlane Company Raises $14 Million to Boost eVTOL Development The ePlane Company, a trailblazer in the electric vertical take-off and landing (eVTOL) aircraft space, has raised $14
The ePlane Company, a trailblazer in the electric vertical take-off and landing (eVTOL) aircraft space, has raised $14 million in its Series B funding round. The investment, led by Speciale Invest and Antares Ventures, with support from notable investors like Naval Ravikant and Micelio Mobility, will help the company move closer to making air taxis, ambulances, and delivery drones a reality.
Founded in 2019 by Satya Chakravarthy, ePlane is working on cutting-edge solutions for urban mobility. With this new funding, the company plans to obtain global regulatory certifications and accelerate the development of its eVTOL aircraft, with the goal of launching air taxis and air ambulances by 2026.
ePlane’s mission is clear: to redefine urban transport by creating fast, eco-friendly air mobility solutions. As cities become more congested, the demand for faster, more efficient transportation is increasing. eVTOL aircraft—which can take off and land vertically, like a helicopter—promise to provide a quicker way to travel across crowded urban centers and reduce traffic jams.
With a focus on sustainability, safety, and innovation, ePlane is developing its flagship aircraft, the e200x, which is designed to offer intra-city commutes and cargo transport. As part of its growth plan, the company aims to create a comprehensive ecosystem that includes both manned air taxis and unmanned drones for commercial use.
The $14 million funding will primarily be used to:
Satya Chakravarthy, founder and CEO of ePlane, shared his excitement about this next chapter:
“This funding is a significant milestone in our journey. It brings us closer to our goal of leading India’s eVTOL sector and shaping the future of urban mobility.”
ePlane’s eVTOL aircraft aren’t just about air taxis. The company is also working on drone technology, which has already garnered attention in industries such as agriculture, logistics, and delivery services. Through Amber Wings, the company is developing small drones and agricultural UAVs aimed at improving crop monitoring, precision farming, and long-distance deliveries.
The agricultural drones are set for certification by early 2025, with initial focus on logistics, inspection, and delivery. The company is confident that these smaller drones will open up new revenue streams, including partnerships with logistics companies and agri-tech firms.
ePlane operates with a dual brand strategy:
While both brands stem from ePlane’s technological foundation, there’s a possibility that Amber Wings could be spun off into a separate entity in the future, depending on the scale and success of its commercial operations.
Chakravarthy explained that ePlane’s agricultural drones and lightweight eVTOL drones are gaining momentum in the market. These products are seen as solutions for industries that need faster deliveries and precise monitoring, such as agriculture and logistics.
In addition to dominating the Indian market, ePlane is looking beyond India and setting its sights on international markets. With the rapid growth of urban mobility solutions worldwide, Southeast Asia and the Middle East are key focus regions for ePlane’s international expansion.
Satya Chakravarthy mentioned:
“We’re targeting international markets, particularly Southeast Asia and the Middle East, which are seeing a growing demand for innovative air mobility solutions.”
The startup aims to tap into these emerging markets by offering affordable, fast, and sustainable transportation while positioning itself as a global leader in the eVTOL industry.
While ePlane is still in the early stages of commercializing its products, it expects modest revenues of about $1 million to $2 million for FY25, driven by the sale of agricultural drones and small eVTOL models. The real revenue growth is expected to come after 2025, once ePlane begins commercializing its air taxis and air ambulances.
By 2026, ePlane aims to launch its air taxi service, with flight tests for these aircraft scheduled for mid-2025. Achieving regulatory certifications for air taxis and air ambulances will be crucial in ensuring that the company can meet its goal of commercial launch by 2026.
As ePlane’s commercial operations scale, further investment rounds may be necessary to support its growth. Chakravarthy emphasized that while revenue generation is essential, the company’s top priority remains staying ahead of the curve in the race to develop air taxi technology. This will require significant capital investment, and ePlane plans to raise more funds if needed to accelerate development.
With this latest funding round and its ambitious plans for eVTOL aircraft and drone technology, ePlane is poised to become a major player in the future of urban air mobility. As cities become increasingly crowded, solutions like air taxis and delivery drones will be key to transforming the way people and goods move around. The next few years will be crucial for ePlane as it works towards flight tests in 2025 and aims to commercialize its groundbreaking technology by 2026.
