FutureFlight
TCab Tech Boosts Funding for E20 eVTOL Aircraft with New and Old Backers
The Chinese start-up has raised an additional $15 million to support plans to certify its five-seat E20 vehicle in 2025.
TCab Tech is developing the five-seat E20 eVTOL aircraft.
TCab Tech has raised further funds to support the development of its five-seat E20 eVTOL aircraft. (Image: TCab Tech)

China’s TCab Tech this week reported that it has raised RMB100 million ($15 million) to support its efforts to develop its E20 eVTOL aircraft. Venture-capital group Grand Flight led the pre-Series A funding round, which was supported by Kunlun Capital and KIP Capital, along with existing shareholders BlueRun Ventures and Decent Capital.

The investments build on seed funding rounds in 2021 that raised around $10 million. TCab Tech was founded by former executives with rival Chinese eVTOL vehicle developers Terrafugia (part of the Geely automotive group and now called Aerofugia) and AutoFlight.