TCab Tech announced the completion of the Pre-A financing of 100 millionyuan. This financing round is led by Grand Flight,followed by Kunlun Capital, KIP Capital and the existing shareholders BlueRunVentures and Decent Capital. The Pre-A financing round provides sufficient capitalfor the development, manufacturing and flight testing of the full-scale E20eVTOL prototype.

“TCab Tech is in the stage of increasing our competitive advantages in theeVTOL development.” Said Founder & CEO of TCab Tech Yon Wui NG. “Our teamwill continue to expedite the commercialization of E20 eVTOL with a pragmaticattitude, focus on creating aircraft of high commercial value, and facilitatethe advancement of Urban Air Mobility in China and APAC region."

TCab Tech is an eVTOL aircraft company dedicated in developing avectored-thrust eVTOL aircraft called E20. ‘TCab’ metaphors ‘Time Taxi’, itcarries the mission to offer affordable and time-efficient aerial-ridesharingservices to the general public.

About Series Pre-A InvestmentInstitutions:

Grand Flight is an independent industrial investment fund mainly initiated by Far EastHorizon (HK.03360). At present, the management scale of Grand Flightexceeds 5 billion RMB. It led the investment of a number of high-qualityenterprises in China's emerging industries such as Tuhu, MISSFRESH, WM Motor, Peijia Medical, CF Pharmtech, OrigiMed, Lumi Tech, Gaussian Robotics, AECS, bochewang…etc.

Kunlun Capital was founded in 2015. Kunlun Capital focuses on theinvestment of scientific and technological innovation enterprises. In recentyears, Kunlun Capital has successively invested in Inkeverse (HK:03700), DADA(NASDAQ:DADA), Dreame, IAM, PonyTron, Koya Medical,EDIGENE, Cytek (NASDAQ:CTKB), PingCAP, obiosh (SH:688238),halomicro (SH:688173), 8hsleep(SZ:301336), Zbit semi(SH:688416), SVOLT Energy,Xinghuan Juneng, zoolnasm, leyantech, soonsolid…etc.

KIP (Korea Investment Partners) As an affiliate of KoreaInvestment Holdings, which is one of the top financial conglomerates in Korea,Korea Investment Partners (KIP) is a leading venture capital and private equitywith ample investment experience. For more than 30 years since 1986, KIP hasshown steady and unprecedented investment performances in various industries. Fromearly stage ventures to growth stage companies, KIP’s investments deliver aunified goal to create more values by forging strong relationships integral tobuilding business across different industries.

Decent Capital is founded in 2007 by Mr. Zeng Liqing, theco-founder of Tencent Holdings Ltd. Decent Capital is a leading angelinvestment institution, dedicated in internet-related consumption and high-techfields.

BlueRun Ventures was founded in Silicon Valley in the United Statesin 1998. BlueRun Ventures China, established in 2005, focuses on early-stageventure capital investments. BlueRun have invested in over 150 early-stagestartup companies, covering innovative technology and interface, enterpriseservices, emerging consumer trends, healthcare services…etc.