Flying electric taxi startup The ePlane Company has raised $14 million in a Series B funding round. In another development, Ennoventure has raised $8.9 million in a Series A round led by Tanglin Venture Partners.
The ePlane company secures $14m Series B
Flying electric taxi startup The ePlane Company has raised $14 million in its Series B funding round co-led by Speciale Invest and Antares Ventures. The funding also saw participation from Micelio Mobility, Naval Ravikant, Java Capital, Samarthya Investment Advisors, Redstart (from Naukri), and Anicut, the startup said in a statement.
The funds will primarily support the development and certification of ePlane’s manned aircraft, with flight testing planned for mid-2025. In addition to expanding the company’s technical capabilities, the investment will help scale up the commercialisation of ePlane’s drone technology through a wholly-owned subsidiary, the statement added.
Further, ePlane will enhance its prototyping and testing facilities to ensure alignment with global electric vertical takeoff and landing (eVTOL) standards.
“This funding represents a major milestone for ePlane as we work to redefine urban mobility and lead the charge in India’s eVTOL sector. Our focus on safety, sustainability, and innovation will remain at the core of our strategy, and this investment will enable us to bring aerial mobility closer to reality. With our technological advancements and our committed team, we are paving the way for the future of urban transport,” said Professor Satya Chakravarthy, Founder and CEO of ePlane.
Founded by Professor Satya Chakravarthy and incubated at IIT Madras in 2019, ePlane is developing the e200x, an eVTOL aircraft designed to provide up to 7x faster intra-city commutes and cargo transport, reducing traffic congestion in urban centres.
Ennoventure raises $8.9m led by Tanglin
Brand protection and authentication solutions provider Ennoventure has raised $8.9 million in its Series A funding round led by Singapore-based venture capital firm Tanglin Venture Partners.
The round also saw participation from existing investors, such as Fenice Investment Group and SAFE investors, the startup said in a statement.
The capital proceeds will be utilised to develop the technology and expand Ennoventure’s global footprint across the USA, UAE, India, and other markets, the company said in a statement.
Founded in 2018 by Padmakumar Nair and Shalini Nair, Ennoventure utilises AI and cryptography to help brands and consumers by authenticating product packages and transforming them into intelligent, connected packaging
“Securing this investment is a significant milestone in our journey to become the go-to partner for brands looking to protect their products and reputations,” said Padmakumar Nair, CEO and Founder of Ennoventure. “With the support of our investors, we are well-positioned to lead the charge in delivering innovative, AI-powered solutions that empower brands to stay ahead of the curve in a fast-evolving market.”
