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Chennai-based urban air mobility startup The ePlane Company to raise USD 40–50 Mn in funding to advance prototype testing & expand its engineering teams

Chennai-based urban air mobility startup The ePlane Company is in advanced talks to raise USD 40–50 million in a new funding round, according to media reports. The proposed investment round is expected to see deep-tech venture capital firm Speciale Invest co-lead the funding, as the startup prepares for its next phase of growth.

This fresh capital raise comes as the electric vertical take-off and landing aircraft developer accelerates product development, regulatory certification, and the commercial rollout of its air taxi services. Founded at the Indian Institute of Technology Madras, the company is building compact electric air taxis designed specifically for short-distance urban travel. By doing so, it aims to tackle worsening congestion in Indian cities while enabling faster point-to-point aerial mobility.

People familiar with the matter say the company plans to use the new funds to advance prototype testing and expand its engineering teams. Additionally, the capital will support certification efforts with aviation regulators while also strengthening manufacturing readiness as the startup moves closer to commercial launch timelines.

Previously, The ePlane Company raised early-stage funding from a mix of institutional investors and strategic backers, which helped establish its position within India’s emerging advanced air mobility ecosystem. As a result, it now stands among a small but growing group of domestic startups working on next-generation aviation technologies.

Meanwhile, the global urban air mobility market continues to attract strong investor interest as cities actively seek alternatives to congested ground transportation. Electric air taxis offer several advantages, including lower operating costs, reduced noise pollution, and zero tailpipe emissions, which together make them a compelling option for sustainable urban transport.

At the same time, Speciale Invest continues to deepen its exposure to high-technology mobility solutions, leveraging its experience in backing startups across aerospace, robotics, and advanced engineering. This continued support highlights growing confidence in the long-term potential of electric aviation.

The planned fundraiser also aligns with increasing momentum in India’s aviation and advanced mobility sector, supported by favorable policy discussions, research-driven innovation, and rising private capital. If completed, the round will provide the company with a longer operational runway to achieve critical technical and regulatory milestones, ultimately bringing its vision of on-demand urban air taxis closer to everyday reality.

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BRL Editorhttps://businessreviewlive.com
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