Accel led a $10 million investment in Sarla Aviation, an aerospace startup creating electric planes for flying taxis.
Angel investors also took part in the round, including Sriharsha Majety of Swiggy, Binny Bansal, a co-founder of Flipkart, and Nikhil Kamath, a co-founder of Zerodha.
The money will be used by Sarla Aviation to open a research and development facility in Bengaluru. By 2028, the business also intends to introduce its flying taxis.
Adrian Schmidt, Rakesh Gaonkar, and Shivam Chauhan founded the company in 2024, and it is getting ready to present its first prototype, called Shunya, at the Bharat Mobility Global Expo in New Delhi on January 17. The aircraft can accommodate six passengers in addition to the pilot and can carry up to 680 kg.
In order to get ready for the launch of its flying taxi service, Sarla Aviation teamed up with Bengaluru International Airport last year.
The move comes after Accel announced the opening of its eighth fund, which will invest $650 million in early-stage businesses in India and Southeast Asia with an emphasis on manufacturing, fintech, consumer services, and enterprise AI.
The ePlane Company, an electric aircraft startup, raised $14 million in November of last year. In order to provide cargo transportation and intra-city commutes, the startup is creating an eVTOL aircraft. Additionally, by 2026, InterGlobe Enterprises and US-based Archer Aviation intend to introduce an all-electric air taxi service in India.
