Indian billionaire Anand Mahindra recently, in a post on X, praised an IIT Madras incubated startup named ‘The ePlane Company’, which is developing an all-electric vertical take-off and landing (VTOL) air taxi.

“The eplane company. A company being incubated at IIT Madras to build a flying electric taxi by sometime next year…” Mahindra wrote.

He also said IIT Madras has “become one of the world’s most exciting and active incubators.”

“Thanks to them and the rapidly growing number of ambitious incubators throughout India, we’re no longer seen as a country that lacks genuine innovators… Audacious aspirations matter. Accept no limits,” Mahindra added.

Founded by aeronautics professor Sathya Chakravarthy, The ePlane Company is working to create India’s first compact flying electric taxi for freight transportation and intra-city travel.

The ePlane e200, a two-seater aircraft designed for urban environments, will be capable of flying within a range of 500 to 1,500 meters (1,500 to 4,000 feet).