TCab Tech announces it has raised an additional U$20 million in its Series A financing. The exclusive investment comes from a strategic investment fund which plans to introduce the air-taxi application in the Middle East region.
TCab passenger-carrying E20 eVTOL is a tilt-rotor configuration, a five-seater (one pilot plus four passengers) equipped with six rotors, four tilt and two lift rotors, and a high gull-wing with a conventional tailplane design.
The eVTOL targets a maximum design range of 200 km, and a cruising speed of 260km/h. It is most efficient for commuting between 30 km and 150km
Apart from China which has been identified by many reports as the single largest market for air-taxi application, TCab Tech also believes that there are strong demands for E20 eVTOL in the Middle East, Southeast Asia, and the “Belt and Road” regions because these fast-developing regions would benefit from integrating air-taxi into their transportation infrastructure for aerial-sightseeing and inter-city travel.
With this financing, TCab Tech intends to accelerate the development of E20 aircraft and airworthiness certification goals and ultimately, the commercialization of the E20 eVTOL.
