Skift Take
There's a lot of money going into the development of flying taxis. The one featured this week has its eyes set on the Middle East and Asia.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
Flying taxis raised hundreds of millions of dollars last year, and they're continuing to raise money in 2024. Some are further along in development than others, but the one featured this week has already begun testing.
Four travel tech startups announced fundraises over the last week totaling nearly $86 million.
TCab Tech: $20 MillionTCab Tech, which is testing the flying taxi it developed, has raised $20 million as part of its series A round.
The $20 million comes from a “strategic investment fund” that plans to introduce the aircraft in the Middle East.
The TCab aircraft, considered an electric vertical take-off and landing aircraft (eVTOL), has five seats and a cruising speed of 162 miles (260 kilometers) per hour. It is designed to fly for a maximum of 124 miles (200 kilometers) for each trip.
The company took the aircraft on its first test flight last November.
China-based TCab aims to sell the product in areas that could use flying taxis for sightseeing and inter-ci