The ePlane company, a B2B sourcing and Business Intelligence platform for aerospace parts and repair has raised undisclosed funds in seed funding.
The seed funding round was led by VC Speciale Invest and FirstCheque, JavaCapital and Sharechat co-founder Farid Ahsan. The company plans to use the funds raised to augment building critical infrastructure, including flying taxis and a world-class team of engineers to develop IP and show early product demonstrations by 2021.
The company co-founder professor Satya Chakravarthy said, “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.”
Incubated at IIT-Madras Incubation Cell, the startup operates from the National Centre for Combustion Research and Development.
“We at Speciale Invest believe in the founders” deep- technical insights that are leading them to build a roadmap of electric planes and associated critical infrastructure,” said Speciale Invest managing partner Vishesh Rajaram.
The ePlane Company claims that it is building electric planes which can be used for faster commute within cities at a similar price to road taxi and can also be used for moving cargo in remote and rural areas.
-AK
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