TCab Tech announced the completion of the Pre-A financing of RMB100 million (US$14.7 million). This financing round is led by Grand Flight, followed by Kunlun Capital, KIP Capital and the existing shareholders BlueRun Ventures and Decent Capital. The pre-A financing round provides sufficient capital for the development, manufacturing and flight testing of the full-scale E20 eVTOL prototype.
“TCab Tech is in the stage of increasing our competitive advantages in the eVTOL development,” said founder and CEO of TCab Tech Yon Wui Ng. “Our team will continue to expedite the commercialization of E20 eVTOL with a pragmatic attitude, focus on creating aircraft of high commercial value, and facilitate the advancement of urban air mobility in China and APAC region.”
TCab Tech is an eVTOL aircraft company dedicated in developing a vectored-thrust eVTOL aircraft called E20. “TCab” is a metaphor for “Time Taxi,” and carries the mission to offer affordable and time-efficient aerial-ridesharing services to the general public.
This press release was prepared and distributed by TCab Tech.
