eVTOL player ePlane raises $14 million, anticipates parallel aviation industry & new jobs

The ePlane Company, incubated at IIT-Madras and aiming to become one of the main players in India’s electric vertical takeoff and landing (eVTOL) mobility sector, on Friday announced the closure of a $14 million funding round. With this funding, ePlane is poised to become the largest-funded eVTOL player in India, the company said in a statement.

Founder of the startup and IIT-Madras aerospace engineering professor Satya Chakravarthy told ET that the government's support and announcement of certification standards have helped strengthen investor confidence. “Among the new investors, we can clearly see that their conviction about air taxis is much stronger compared to their interest in just commercialising drones,” he said.

The Series B round was co-led by Speciale Invest and Antares Ventures, with continued participation from Micelio Mobility, Naval Ravikant, Java Capital, Samarthya Investment Advisors, Redstart (from Naukri), and Anicut.


Prime Minister Narendra Modi, at an event in September, stated that air taxis would soon be a “reality in India.” The government’s interest in exploring new transportation modes, given the congestion in urban areas, has provided a potential boost to a parallel aviation industry.

While Chennai based ePlane aims to prototype its aircraft by mid-2025, India could potentially see operational air taxis as early as 2026, with several companies working on the project. Sarla Aviation, in partnership with Bangalore International Airport, is developing an electric aerial vehicle (EAV).

Meanwhile, InterGlobe Enterprises, the parent company of IndiGo, along with Archer Aviation, plans to launch an all-electric air taxi service in the same year, with one-way fares expected to be priced at Rs 3,000, as reported by ET in April.

Speaking about this emerging market and the possible competition, professor Chakravarthy said it’s reassuring that others are also betting on air taxis. “While we believe we have an edge in terms of configuration and operational convenience, I’m convinced that what ultimately wins in the market isn't just the best technical product,” he said, explaining that there’s much more to commercialization, and technical superiority alone doesn’t guarantee success. “To secure our position, we need to stay ahead of the game and capture market share early on."

Building ground infrastructure

As eVTOL players increasingly explore potential locations for landing spaces, they are also securing rights for these sites. “We’re actively identifying and reaching out to technical consulting firms, logistics and travel specialists, and urban mobility players to help us understand and develop these landing spaces,” ePlane founder said. The DGCA had issued rules for establishing vertiports, which are the operating bases for VTOL aircrafts in September.

According to industry experts, the rise of a parallel aviation industry promises significant economic impact, creating a wide range of specialised jobs beyond traditional aviation. New roles, such as maintenance operators for aircraft and landing sites, charging infrastructure personnel, and air traffic control staff tailored to small, localised fleets, will attract training programs and certifications.

“Every aircraft we deploy will require at least two pilots to operate in shifts, ensuring efficient utilisation. Additionally, each landing site will need a dedicated maintenance operator, and charging infrastructure will play a key role,” ePlane founder Chakravarthy said.