Shanghai-based eVTOL developer TCab Tech has completed a RMB 300 million (around USD 43 million) Series B++ funding round. The round was jointly led by Meridian Capital, HuaHan Capital and Puhua Capital. This is the company’s second funding round in 2025 and seventh overall, bringing total funding to over RMB one billion (USD 143 million).

The investment is the first major injection into China’s low-altitude economy since it was identified as a strategic emerging sector under China’s 15th Five-Year Plan (2026–2030). TCab Tech says it will use the funding to speed up airworthiness certification and commercial rollout of its tilt-rotor E20 eVTOL.

The E20 has completed more than 1,000 flight tests, including a manned test flight with CEO Yon Wui Ng onboard. It has a cruise speed of 320 km/h, a 200 km range and a 450 kg payload, and is now in the compliance verification stage of certification, with approval targeted in 2027.

TCab Tech signed an MoU in July 2025 with UAE-based Autocraft for up to 350 aircraft, the largest overseas eVTOL order by a Chinese company.

The company’s CEO, Yon Wui Ng, says: “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 commercialisation. This round of funding will accelerate the airworthiness certification and mass production readiness of the E20 eVTOL.”