TCab Tech closes Series A financing with additional 20 million USD
SHANGHAI, March 26, 2024 /PRNewswire/ -- TCab Tech announces it has raised an additional 20 million USD 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.
TCab passenger-carrying E20 eVTOL is a tilt-rotor configuration, a 5-seater (1pilot+4pax) 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 – 150km.
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 eVTOL 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.
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.
About TCab Tech
TCab Tech is an eVTOL aircraft developer with mission to provide safe and convenient air mobility services to the public. TCab means "time taxi". The company focuses on developing a passenger-carrying, vectored-thrust eVTOL aircraft called E20, which mainly targets air mobility market in China, Middle East, and Southeast Asia regions.
Contact: [email protected]
Website: https://tcabtech.com
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