Antares Ventures has co-led a $14 million Series B funding round for The ePlane Company, supporting its mission to innovate urban mobility through electric vertical takeoff and landing technology in India.
Information on the Target
Antares Ventures is excited to announce its role as a co-leader in a $14 million Series B funding round for The ePlane Company, a leading innovator in electric vertical takeoff and landing (eVTOL) technology in India. This strategic investment is instrumental to ePlane's mission of transforming urban mobility through advanced and sustainable aerial transport solutions. Established in 2019 and incubated at IIT Madras, ePlane is dedicated to designing compact, lightweight, and eco-friendly eVTOL aircraft.
One of ePlane's flagship products, the e200x, aims to revolutionize urban transportation by enabling intra-city commutes and cargo transport to occur at speeds up to seven times faster than traditional methods. This advancement promises to significantly alleviate traffic congestion in urban areas across India and beyond.
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Industry Overview in India
The urban mobility sector in India is undergoing a substantial transformation, driven by rapid urbanization and increasing demand for effective transportation solutions. The Indian government is actively supporting advancements in
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in a Series B deal
Disclosed details
Transaction Size: $14M