China: TCab Tech Raise USD15 million in Series Pre‑A Financing

Chi­na-based eVTOL com­pa­ny, TCab Tech, announced this week it had raised USD15 mil­lion in a Series Pre‑A Financ­ing round, reports a press release. This was led by Grand Flight, fol­lowed by Kun­lun Cap­i­tal, KIP Cap­i­tal and exist­ing share­hold­ers BlueRun­Ven­tures and Decent Cap­i­tal. The invest­ment is suf­fi­cient for the devel­op­ment, man­u­fac­tur­ing and flight test­ing of its full-scale E20 eVTOL pro­to­type.

Yon Wui NG, Founder and CEO, com­ment­ed, “TCab Tech is at the devel­op­ment stage of increas­ing its com­pet­i­tive advan­tage. Our team will con­tin­ue to accel­er­ate the com­mer­cial­i­sa­tion of the E20 eVTOL cre­at­ing an air­craft of high com­mer­cial val­ue, and facil­i­tate the advance­ment of Urban Air Mobil­i­ty in Chi­na and the APAC region.”

Yon Wui NG

The TCab E20 is a vec­tored-thrust eVTOL air­craft (see video). The com­pa­ny is aim­ing to build an afford­able, time-effi­cient air taxi for the gen­er­al pub­lic. The air­craft will become a com­peti­tor for oth­er Chi­na-based eVTOL com­pa­nies like Aut­oFlight and EHang.

Watch Video

https://www.youtube.com/watch?v=-HNdqnEscEE

Back­ground

TCab Tech was found­ed in May 2021 in Shang­hai, Chi­na. The com­pa­ny ini­tial­ly raised USD10 mil­lion from two rounds of fund­ing that same year. The TCab part of the com­pa­ny’s name is an abbre­vi­a­tion for “Time Cab”. The com­pa­ny aims to use AI to assist the air­craft dur­ing flight.

The E20 eVTOL air­craft holds one pilot and up to four pas­sen­gers; trav­els at a cruise speed of 160 mph with a range of 125 miles and a max­i­mum pay­load of 990 lbs. The air­craft has six pro­pellers, four tilt plus two dou­ble-stacked fixed. The tilt-pro­pellers are used for for­ward flight and tran­si­tion. The air­craft has one high wing with a con­ven­tion­al fuse­lage mount­ed tail and tri­cy­cle fixed wheeled land­ing gear.

In Sep­tem­ber 2021 T‑Cab announced it had start­ed flight test­ing using a sub-scale tech­nol­o­gy demon­stra­tor. Three months lat­er the com­pa­ny revealed a full-scale mock­up of the E20 along with details of a planned ver­ti­port infra­struc­ture.

The com­pa­ny pre­dicts their first com­mer­cial flight for the E20 will take place some­time in late 2024 or ear­ly 2025. T‑Cab expects each pro­duc­tion air­craft to cost up to USD750,000.

For more infor­ma­tion

http://www.tcabtech.com/en/index.aspx