The ePlane Company on Thursday stated that it has raised seed funding from none other than Speciale Invest. The ePlane Company is an IIT-Madras incubated startup. The money from the funding is going to be used to augment building vital infrastructure, as well as flying taxis. The unrevealed investment was managed by VC Speciale Invest, JavaCapital, FirstCheque, and Sharechat Co-founder Farid Ahsan.
Speciale Invest managing partner Vishesh Rajaram stated that he and his company believe the founders’ deep-technical ideology which is leading them to create a roadmap of electrical planes and united crucial framework. The startup is presently operational from the National Centre for Combustion analysis and Development.
The recent round of investment would enable the firm to expand raising important foundation and a world-class team of technicians to improve IP and show early output presentations by 2021, “Electric planes can really disrupt aviation over short distances characterising urban aerial mobility. The configuration we are building will enable cost-effective air taxi operations in the future”, said the company co-founder Professor Satya Chakravarthy.
Pranjal Mehta, Co-founder and Chief Operating Officer of the startup expressed that In urban areas, individuals pay 1-2 hours daily move thus in a shot to cut back it to 10-15 minutes at an analogous value, the startup was started. Also, there’s tremendous social group and business worth within the try. It will even build cheap air ambulances a reality. the chances square measure endless provided the startup is successful.
The ePlane Company is developing electric planes, which might be utilised for quicker commute inside cities at an alike price to road taxi and might even be employed for moving cargo in isolated and rural regions. It had been established in April 2017 and completely launched in 2019 by Professor Satya Chakravarthy and Pranjal Mehta to facilitate aerial movement.