We are pleased to share that we have completed two rounds of fundraising within one month. BlueRun Ventures is our Seed investor while Decent Capital is our Seed+ investor. The two institutional investments have injected around 10 million dollars for our eVTOL aircraft development.
BlueRun Ventures is well-known for supporting more than 150 startups since its China-based establishment in 2005. Decent Capital was founded by Tencent co-founder Jason Zeng, it is a leading venture capital focusing on advanced technology, industrialized innovation, and web-based investments.
TCab Tech was founded in May 2021. TCab Tech founder and CEO, Yon Wui NG, was previously Vice General Manager of Geely Terrafugia responsible for the eVTOL aircraft named TF-2A. Before Geely Terrafugia, Yon spent 10 years with Airbus China Engineering Center whereby one of his positions was Head of Engineering for the engineering center.
We are currently developing a full-electric eVTOL aircraft named E20. The E20 is a piloted aircraft designed to carry four passengers. It is a tilt-rotor, high gull-wing, conventional tailplane, and fixed landing gear design. Out of the six rotors, two on the outboard wing and two on the horizontal tailplane can be tilted, the rest of the two rotors on the inboard wing are actually lift rotors with stowable blades in cruise. The high gull-wing prevents rotor-hit while passenger ingress/egress of the cabin. The conventional tailplane and fixed landing gear simplify the aircraft design.
Design parameters for the E20 are as follows:
Max payload: 450kg
Maximum Range: 200km
Cruising Speed: 260km/hr
While many Chinese drone startups focus on non-passenger carrying, smaller drone applications, we concentrate on piloted passenger-carrying eVTOL aircraft aiming to bring aerial ridesharing to the general public. In this regard, we pursuit airworthiness certification with CAAC and EASA, and design our E20 in full compliance with the relevant airworthiness requirements.