Electric Aircraft Innovator The ePlane Company Raises USD 14 Mn Funding Led by Speciale Invest and Antares Ventures The new funding will drive ePlane's global certification, accelerate commercialisation, support eVTOL aircraft development, enable mid-2025 flight testing, expand drone tech, and enhance prototyping for international standards compliance.
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Electric aircraft startup The ePlane Company has raised USD 14 million in a Series B funding round co-led by Speciale Invest and Antares Ventures. Other prominent investors, including Micelio Mobility, Naval Ravikant, Homage Ventures (led by Aditya Ghosh), Java Capital, Samarthya Investment Advisors, Redstart Labs (from Naukri), and Anicut, also participated.
This fresh round of investment follows previous funding of USD 5.85 million, including a USD 5 million pre-Series A led by Speciale Invest and Micelio in 2022.
The new capital will be pivotal for ePlane's global regulatory certification efforts and accelerating its commercialisation roadmap. The primary focus of the funds will be the development and certification of ePlane's manned eVTOL aircraft, with flight testing scheduled for mid-2025.
Additionally, the investment will support the scaling up of ePlane's drone technology commercialisation through a wholly-owned subsidiary while enhancing its state-of-the-art prototyping and testing facilities to meet international eVTOL standards.
Founded in 2019 by Professor Satya Chakravarthy and incubated at IIT Madras, ePlane is committed to redefining urban mobility with a focus on sustainability and compact, lightweight designs.
The company's flagship model, the e200x, aims to deliver intra-city commutes and cargo transport up to seven times faster, easing traffic congestion in densely populated urban areas.
"We are incredibly grateful to our investors for their continued support," Chakravarthy said. "This funding represents a major milestone for ePlane as we work to redefine urban mobility and lead the charge in India's eVTOL sector. Our focus on safety, sustainability, and innovation will remain at the core of our strategy."
The Chennai-based startup has already made a mark by securing Design Organisation Approval from India's Directorate General of Civil Aviation (DGCA) last year, becoming the first private Indian firm to receive this certification for an electric aircraft.
In the same sector, InterGlobe Enterprises and US-based Archer Aviation recently announced plans to launch an all-electric air taxi service in India by 2026, setting up a high-stakes race in India's eVTOL industry.
Speciale Invest's Managing Partner, Vishesh Rajaram, said, "ePlane has demonstrated exceptional leadership and innovation in the eVTOL space. Their commitment to solving urban mobility challenges through sustainable, tech-driven solutions is evident, and we're thrilled to continue backing their vision."
Since its last funding round, ePlane claims to have achieved significant product development milestones, successfully validating key subsystems and expanding its intellectual property portfolio.
