Chennai-based startup The ePlane Company, India’s first flying taxi venture, is looking to raise $30-$50 million ahead of its planned launch. The company, co-founded by Aerospace Engineering professor Satyanarayanan Chakravarthy and IIT Madras graduate Pranjal Mehta, has already secured $20 million in funding. With plans to manufacture three prototypes by 2026 and begin commercial operations by late 2026 or early 2027, The ePlane Company is positioning itself as a leader in urban air mobility. Earlier this month, the company announced a deal to supply 788 air ambulances, valued at over $1 billion.
The ePlane Company, a Chennai-based aviation startup pioneering urban air mobility, is planning to raise between $30 million and $50 million ahead of its first commercial launch. The company, co-founded by Aerospace Engineering professor Satyanarayanan Chakravarthy and IIT Madras graduate Pranjal Mehta, aims to revolutionize intra-city transport with its electric vertical take-off and landing (eVTOL) aircraft.
The startup, which was founded in 2019, has already raised $20 million, including $14 million in a Series B funding round led by venture capital firm Speciale Invest in November 2024. The upcoming Series C funding will be followed by another round in 2026, with the potential to raise up to $100 million, Chakravarthy stated.
Building the Future of Air Mobility
The ePlane Company has ambitious plans to manufacture three prototypes by 2026, leading to commercial operations by late 2026 or early 2027. The company is working on its flagship e200 flying taxi, which promises to reduce travel time significantly while keeping fares affordable—estimated at 1.5 times the cost of regular taxis.
“This is a capital-intensive field, and the next two funding rounds will be crucial as we transition to commercial, revenue-generating operations,” Chakravarthy said.
In a major milestone, The ePlane Company recently announced a deal to supply 788 air ambulances, valued at over $1 billion. This agreement underscores the growing demand for aerial mobility solutions beyond passenger transport.
Scaling Up for Commercial Operations
The startup is targeting an initial production of 100 units per year, with plans to expand based on market demand. The company’s technology, developed in collaboration with IIT Madras, focuses on safety, efficiency, and sustainability.
With urban congestion worsening in major cities, eVTOL technology is expected to play a key role in reducing travel time while cutting down emissions. The Indian government has also been actively promoting electric and sustainable mobility solutions, creating a favorable environment for startups like The ePlane Company.
As the company gears up for its next phase of development, investors and industry experts are closely watching its progress, as India prepares to embrace flying taxis as a mainstream mode of transport.
