TCab Tech, a leading Chinese electric vertical take-off and landing (eVTOL) manufacturer, has secured RMB 300 million (approximately USD 43 million) in Series B++ funding to advance the industrialization of its flagship E20 aircraft. The round was co-led by Meridian Capital, HuaHan Capital, and Puhua Capital, bringing TCab Tech’s total funding to over RMB 1 billion (approximately $143 million) since its founding.
This marks the company’s second capital raise in 2025 and the seventh overall. The investment represents the first major commitment to China’s low-altitude economy since it was officially designated as a strategic emerging sector under the nation’s 15th Five-Year Plan (2026–2030). The deal highlights both market confidence and strong policy support for TCab Tech’s technological strategy, engineering maturity, and commercialization trajectory.
TCab Tech is now intensifying efforts toward airworthiness certification and industrial-scale deployment of the E20 eVTOL, positioning itself at the forefront of a rapidly growing sector expected to transform urban and regional mobility.
The company’s E20 aircraft is based on a tilt-rotor configuration, widely regarded as the most promising path for Advanced Air Mobility (AAM). The E20 achieves a cruise speed of 320 km/h, a range of 200 km, and a payload capacity of 450 kg, combining vertical take-off and landing with efficient forward flight for commercial viability. TCab Tech has completed over 1,000 flight tests, including a milestone multi-passenger flight with the CEO on board, validating the system’s reliability. The company aims to achieve airworthiness certification by 2027.
In addition to domestic progress, TCab Tech has also achieved international breakthroughs. In July 2025, it signed a memorandum of understanding with Abu Dhabi-based Autocraft for the potential delivery of up to 350 electric aircraft, the largest overseas order ever secured by a Chinese eVTOL manufacturer. This agreement reinforces global confidence in the company’s engineering and product capabilities.
The Series B++ round brings not only financial backing but also strategic collaboration from three major investors. Each brings domain expertise and global networks aimed at accelerating TCab Tech’s commercialization. Meridian Capital focuses on early strategic sectors; HuaHan Capital emphasizes scalable engineering and certification pathways; and Puhua Capital supports industrial coordination and advanced manufacturing maturity.
To ensure certification readiness and industrial robustness, TCab Tech has built an extensive ecosystem of international and domestic partners. Globally, it collaborates with Safran, a Fortune Global 500 company, integrating the world’s first EASA-certified electric motor for eVTOL applications. Domestically, it partners with AVIC Xi’an Aeronautics Computing Technique Research Institute for avionics and flight control, Farasis Energy for batteries, and Hengshen Co. for composite materials. These collaborations align with TCab Tech’s goal of achieving aviation-grade reliability across all systems and streamlining its transition to commercial operations.
TCab Tech’s founder and CEO, Yon Wui NG, said the company intends to leverage China’s policy environment, supply chain depth, and engineering expertise to become a global leader in eVTOL technology. The newly secured funding will be directed toward accelerating E20’s certification and mass-production readiness, reinforcing TCab Tech’s position in shaping the next era of air mobility.
KEY QUOTES:
“The low-altitude economy carries both strategic and economic significance for China and is one of Meridian Capital’s core focus areas. Although the industry is still at an early stage, its development path has become increasingly clear. We prioritize investment in key value-chain enterprises with strong R&D and airworthiness capabilities. TCab Tech excels in both, currently standing among the first-tier players in the certification process. Yon (TCab Tech’s Founder & CEO) personal participation in manned test flights further reinforces our confidence in product safety. In addition, the team’s strong professional background and international outlook — featuring talent from Airbus and the new energy vehicle sector — make TCab Tech exceptionally competitive. We believe the company is well positioned to emerge as a global leader in the eVTOL industry.”
Weiwei Wang, Managing Partner at Meridian Capital
“We have long believed in and systematically invested in the low-altitude economy. The tilt-rotor configuration has become the globally converging technological direction, and TCab Tech is among the first in China to achieve manned flight and stability verification on this path. More importantly, the company has built a comprehensive engineering system that ensures stable, long-duration, and safe flight. Its ability to combine frontier R&D with scalable industrial execution is a core advantage — and the reason we are committed to long-term partnership.”
Meng Wang, Partner at HuaHan Capital
“Puhua Capital continues to focus its investments on the low-altitude economy. TCab Tech demonstrates exceptional industrial coordination and manufacturing maturity. By establishing deep co-development programs with top-tier aerospace suppliers, the company ensures aviation-grade reliability across critical systems. This forward-looking supply chain strategy provides high certainty for E20’s airworthiness certification and enables a smooth transition to commercial operations — building a solid and sustainable competitive advantage. We look forward to TCab Tech accelerating certification and deployment, redefining the future of urban air mobility.”
Xiaofeng Wu and Jingwen Ni, Partners at Puhua Capital
“China possesses globally leading advantages in policy support, industrial infrastructure, supply chain capabilities, and engineering manufacturing. These strengths position China to become a core driving force in global eVTOL technological innovation and commercialization. This round of funding will accelerate the airworthiness certification and mass-production readiness of the E20 eVTOL.”
Yon Wui NG, Founder and CEO of TCab Tech
