Chinese eVTOL aircraft developer TCab Tech has closed a Series B+ funding round, announcing on March 27 that it has now raised a total of $100 million. The Shanghai-based company did not disclose the amount raised in the latest round, which it said was backed by Grand NeoBay Venture Capital and Chifortune Venture Capital.

In March 2024, TCab Tech raised $20 million through a Series A funding round to support development of its four-passenger E20 eVTOL model. At the time, the company said it aimed to complete type certification with the Civil Aviation Administration of China in 2025, but its latest statement this week did not provide an update on this timeline beyond confirming the completion of the G-1 issue paper stage in December 2024. In August 2023, the company flew a technology demonstrator.

The tiltrotor design is expected to support a range of up to around 109 nm. TCab Tech’s statement this week mentioned an anticipated cruise speed of 174 knots, faster than the 140 knots reported last year. It also said that the E20 will feature an 800-volt ultra-fast charging system for the batteries that will power the aircraft’s six Safran electric motors.

“The new funding will drive TCab Tech’s industrialization plan and further strengthen partnerships to develop vertiport infrastructure and regional air routes,” the company said in a written statement. “Investors will also contribute expertise in low-altitude economy policies and cross-industry resources, positioning the company to dominate the Yangtze River Delta’s emerging aerial mobility market.”