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TCab Tech closes Series A financing with additional $20M

TCab Tech Press Release | March 26, 2024

Estimated reading time 1 minute, 44 seconds.

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.

This press release was prepared and distributed by TCab Tech.

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