On March 26, 2024, TCab Tech announced that it has raised an additional $20 million USD in its Series A financing. The exclusive investment comes from a strategic investment fund aiming to introduce air-taxi applications in the Middle East region.

TCab passenger-carrying E20 eVTOL is a tilt-rotor configuration. It is a 5-seater aircraft (1 pilot + 4 passengers) equipped with six rotors—four tilt rotors and two lift rotors—along with a high gull-wing and a conventional tailplane design. The E20 targets a maximum design range of 200 km and a cruising speed of 260 km/h, making it highly efficient for commutes between 30–150 km.

While China has been identified by multiple reports as the largest single market for air-taxi applications, TCab Tech also sees strong demand for the E20 eVTOL in the Middle East, Southeast Asia, and Belt and Road regions. These fast-developing areas can greatly benefit from integrating air-taxis into their transportation infrastructure, supporting aerial sightseeing and inter-city travel.

With this financing, TCab Tech plans to accelerate the development of the E20 aircraft, advance airworthiness certification goals, and ultimately achieve the commercialization of the E20 eVTOL.

About TCab Tech

TCab Tech is an eVTOL aircraft developer with a mission to provide safe and convenient air mobility services to the public. "TCab" stands for "time taxi," reflecting the company's focus on offering efficient and innovative transportation solutions. TCab Tech is developing the E20, a passenger-carrying, vectored-thrust eVTOL aircraft targeting the air mobility markets in China, the Middle East, and Southeast Asia.