On March 26, 2024, TCab Tech announced that it has raised an additional $20 million USD in its Series A financing. The exclusive investment comes from a strategic investment fund aiming to introduce air-taxi applications in the Middle East region.
TCab passenger-carrying E20 eVTOL is a tilt-rotor configuration. It is a 5-seater aircraft (1 pilot + 4 passengers) equipped with six rotors—four tilt rotors and two lift rotors—along with a high gull-wing and a conventional tailplane design. The E20 targets a maximum design range of 200 km and a cruising speed of 260 km/h, making it highly efficient for commutes between 30–150 km.
While China has been identified by multiple reports as the largest single market for air-taxi applications, TCab Tech also sees strong demand for the E20 eVTOL in the Middle East, Southeast Asia, and Belt and Road regions. These fast-developing areas can greatly benefit from integrating air-taxis into their transportation infrastructure, supporting aerial sightseeing and inter-city travel.
With this financing, TCab Tech plans to accelerate the development of the E20 aircraft, advance airworthiness certification goals, and ultimately achieve the commercialization of the E20 eVTOL.
