TCab Technology completes exclusive strategic financing of US$20 million in Series A

The low-altitude economic boom has begun, and Shi's Technology completed an exclusive strategic financing of US$20 million in Series A. Well-known overseas investment institutions have made exclusive strategic investments in Shi's technology and plan to create "air taxi" application scenarios in the Middle East.

With the mission of "providing safe and convenient air travel services to the society", Shi's Technology is down-to-earth and develops manned tilt-rotor eVTOLs with high commercial value . This financing will be used to accelerate product development and airworthiness certification processes.

As the first technology company in China to develop manned tilt-rotor eVTOL , despite the lack of tilt-rotor technology in the country, the company worked together, worked hard, overcame many engineering problems , and steadily advanced scale-down aircraft, frame-based aircraft, and prototypes. Waiting for verification work, reaching milestones one after another. Shi's technology will achieve the first flight of the prototype in 2023 , filling China's technological gap in this direction. Currently, the E20 eVTOL has entered the tilt test flight stage.

While obtaining hundreds of intended orders from multiple domestic operators, the company has established in-depth ties with the Middle East, Southeast Asia and other "Belt and Road" regions, steadily expanded overseas markets, and contributed its share to the world for China's creation.

Chen Weiguang, managing partner of Lanchi Venture Capital, said: Lanchi Venture Capital continues to have firm confidence in the long-term growth trend of the eVTOL industry, and predicts that with the national low-altitude airspace management reform and policy support, the eVTOL industry will usher in significant growth. Although tilt-rotor technology has many engineering challenges, its broad application prospects in the field of urban air transportation are crucial to building an efficient and sustainable urban transportation ecosystem. Shi's Technology has been deeply engaged in this technical field and has established a leading position in the domestic market, demonstrating significant technological progress and market expansion capabilities.

As an angel investment institution of Time Technology, Lanchi Venture Capital not only highly recognizes the team's rich experience and commercialization capabilities in the eVTOL industry, but also assists the company in actively expanding overseas markets and providing financial support to accelerate the growth of Time Technology's global capabilities. We look forward to Shi's technology continuing to consolidate its industry advantages, becoming a leader in the global eVTOL industry through technological innovation and global market expansion, and promoting the global commercialization process of electric flight technology.

As an important representative of new productivity, the low-altitude economy was included in the national government work report for the first time. As a new incremental product in the low-altitude field, eVTOL will occupy a core position in the low-altitude economic industry. It is expected to replicate the path of the electric vehicle industry, promote the development of China's low-altitude entire industry chain, and become an important economic growth engine in the future.