Advanced Air Mobility News

TCab Tech Raises US$14.8 Million in Series Pre-A Financing

TCab Tech Raises US$14.8 Million in Series Pre-A Financing

TCab Tech has completed the Pre-A Financing of 100 million yuan (about US$14.8 million), which will give the Chinese eVTOL company sufficient capital to develop its E20 eVTOL aircraft.

The financing announced on Feb. 8 was led by Grand Flight, followed by Kunlun Capital, KIP Capital and the existing shareholders BlueRun Ventures and Decent Capital, the family office founded by one of Tencent’s co-founders, Jason Zeng in 2007.

“TCab Tech is in the stage of increasing our competitive advantages in the development of eVTOL,” said Yon Wui NG, Founder and CEO, TCab Tech. “Our team will continue to speed up the commercialization of E20 eVTOL with a practical approach, focus on creating aircraft of high commercial value for the development of a three-dimensional transportation system, and facilitate the advancement of Urban Air Mobility in China and the Asia-Pacific region.”

He said the vectored-thrust E20 eVTOL aircraft was introduced based on reliability, cost and market demands with a view to building a sustainable transport ecosystem.

Since TCab Tech was founded in 2021, its five-seater E20 has completed transitional test flights for the ¼ and ½ scale demonstrator. The company has signed the Partnership and Safety Plan (PSP) with the Civil Aviation Administration of China (CAAC) and partnered with Safran to equip the E20 with Safran motors.

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