TCab Tech gets $20 million from Middle East investor for E20 eVTOL aircraft | Aviation International News

Finance, Taxes, Insurance

Chinese eVTOL Aircraft Developer TCab Raises $20 Million

Unnamed investor aims to introduce air taxis in the Middle East

TCab Tech E20 eVTOL aircraft — TCab Tech's E20 eVTOL aircraft is expected to carry four passengers up to 200 kilometers.

By Hanneke Weitering • Science & Technology Editor

March 28, 2024

Chinese eVTOL developer TCab Tech reported this week that it has closed a Series A funding round with a $20 million contribution from an investor in the Middle East. According to TCab, the unnamed strategic investment fund intends to introduce electric air taxis in the region, and the fresh funding should accelerate the development and certification of its E20 eVTOL aircraft.

The Shanghai-based company aims to certify the piloted, four-passenger E20 with the Civil Aviation Administration of China (CAAC) in 2025, and it claims the E20 will be China’s first domestically produced tiltrotor eVTOL aircraft. It began flight testing a technology demonstrator in mid-2023 after the CAAC granted a special flight permit and aircraft registration certificate in June. The CAAC accepted TCab’s application for a type certificate in October, shortly after it issued rival aircraft developer EHang the world’s first type certificate for its EH216-S eVTOL aircraft, a multicopter vehicle that flies autonomously.

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