Comments
The ePlane Company, an IIT Madras incubated start-up building electric planes for door-to-door commute in cities, has raised an undisclosed round of financing in seed funding.
The investment is led by deep-tech VC Speciale Invest and has participation from IIM Ahmedabad’s CIIE.
CO, FirstCheque, JavaCapital, and Sharechat co-founder Farid Ahsan.
The fresh round of financing will allow the company to augment building critical infrastructure and a world class engineering team to develop IP and show early product demonstrations by 2021, says a press release from ePlane.
ePlane was founded in 2017 and fully launched in 2019 by Satya Chakravarthy and Pranjal Mehta to break open inefficiencies in both cargo and passenger transportation. It operates from the National Centre for Combustion Research and Development, IITM, the release said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.