Tencent Co-Founder Joins Funding for Chinese Air Taxi Startup

(Bloomberg) — Chinese electric aircraft startup TCab Tech has raised 100 million yuan ($15 million) in funding as it works on a prototype air taxi, seeking to take on more established rivals in the burgeoning market.

The pre-Series A round was led by Grand Flight Investment Management Ltd., with Decent Capital, the family office of Tencent Holdings Ltd. co-founder Jason Zeng, and existing investor BlueRun Ventures China participating, the Shanghai-based startup said in a statement Wednesday.