Shanghai-based eVTOL manufacturer TCab Tech has announced it has raised an additional USD20 million in its Series A financing. “The exclusive investment comes from a strategic investment fund which plans to introduce the air-taxi application in the Middle East region,” says the company in a press release. “With this financing, TCab Tech intends to accelerate the development of E20 aircraft and airworthiness certification goals and ultimately, the commercialization of the E20 eVTOL.”
The TCab passenger-carrying E20 eVTOL is a tilt-rotor configuration, a 5-seater (one pilot and four passengers equipped with six rotors, four tilt and two lift rotors, and a high gull-wing with a conventional tailplane design. “The eVTOL targets a maximum design range of 200km, and a cruising speed of 260km/hour. It is most efficient for commuting between 30 and150km.
“Apart from China, which has been identified by many reports as the single largest market for air-taxi application, TCab Tech also believes that there are strong demands for E20 eVTOLs in the Middle East, Southeast Asia, and the “Belt and Road” regions because these fast-developing regions would benefit from integrating air-taxi into their transportation infrastructure for aerial-sightseeing and inter-city travel.”
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