TCab Tech has raised an additional $20 million in its Series A financing for development of the company’s flying taxi.
The exclusive investment comes from a strategic investment fund which plans to introduce the air-taxi application in the Middle East region.
With this financing, TCab Tech intends to accelerate progress on the E20 eVTOL aircraft and airworthiness certification goals and ultimately, commercialization of the E20.
TCab passenger-carrying E20 is a tilt-rotor configuration, 5-seater, equipped with six rotors, four tilt and two lift, and a high gull-wing with a conventional tail plane design. The eVTOL has a maximum range of 200km, and a cruising speed of 260km/hour. It is most efficient for commuting between 30–150km.
TCab Tech believes that there are strong demands for the 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.
