26 March 2024,TCab Tech announces it has raised an additional 20 million USD in its Series Afinancing. The exclusive investment comes from a strategic investment fundwhich plans to introduce the air-taxi application in the Middle East region.

TCab passenger-carrying E20 eVTOLis a tilt-rotor configuration, a 5-seater (1pilot+4pax) equipped with sixrotors, four tilt and two lift rotors, and a high gull-wing with a conventionaltailplane design. TheeVTOL targets a maximum design range of 200km, and a cruising speed of260km/hour. It is most efficient for commutingbetween 30 – 150km.

Apart from Chinawhich has been identified by many reports as the single largest market forair-taxi application, TCab Tech also believes that there are strong demands forE20 eVTOL in the Middle East, Southeast Asia, and the “Belt and Road” regionsbecause these fast-developing regions would benefit from integrating air-taxiinto their transportation infrastructure for aerial-sightseeing and inter-citytravel.

With thisfinancing, TCab Tech intends to accelerate the development of E20 aircraft andairworthiness certification goals and ultimately, the commercialization of theE20 eVTOL.

About TCab Tech

TCab Tech is aneVTOL aircraft developer with mission to provide safe and convenient air mobilityservices to the public. TCab means "time taxi". The company focuseson developing a passenger-carrying, vectored-thrust eVTOL aircraft called E20,which mainly targets air mobility market in China, Middle East, and SoutheastAsia regions.