BlueRun Ventures Continues to Double Down, TCab Tech Closes RMB 100 Million Pre-A Round | BlueRun Ventures

Shanghai TCab Technology Co. (abbreviated as "TCab Tech") announced the completion of a 100 million RMB Pre-A funding round. This round was led by Farwing Capital, with participation from Kunlun Capital, KIP Capital, and existing shareholders BlueRun Ventures and DX Capital.

BlueRun Ventures was the exclusive investor in TCab Tech's seed round.

BlueRun Ventures stated: Electrified vehicles have long been a key focus area for BlueRun. As upstream supply chains such as batteries continue to develop and mature, we believe eVTOLs will accelerate toward product realization and commercial deployment. TCab Tech is a leading domestic eVTOL company whose team brings extensive experience in R&D, airworthiness certification, and commercial operations. We believe TCab will become a world-leading eVTOL company and help China become a frontrunner in aerial mobility.

This funding round will provide ample capital for the R&D, manufacturing, and testing of the E20 eVTOL prototype, continuing to build the company's leading position in tiltrotor-configuration eVTOLs. The company will continue to increase R&D investment, deepen its competitive moat, and comprehensively build an aerial mobility ecosystem centered on tiltrotor eVTOLs.

TCab Tech founder and CEO Yongwei Huang said: "TCab Tech is still in an accumulation and R&D phase. The team will continue to uphold a truth-seeking, pragmatic approach, focusing on the commercialization of passenger eVTOLs, dedicated to building high commercial-value aerial transportation vehicles that contribute to the development of China's comprehensive three-dimensional transportation network."

As an eVTOL original equipment manufacturer, TCab Tech has always adhered to the principle that "market demand is the sole criterion for defining products." Based on high reliability, low cost, and requirements for commercial viability, the company has developed the tiltrotor-configuration E20 eVTOL, committed to building a green, sustainable digital transportation ecosystem that provides society with safe and convenient aerial mobility services.

As of late January 2023, the company had successfully completed ground testing, wind tunnel testing, and tilt-transition flight testing of its 25% and 50% scale demonstrators. The prototype, having been validated and iterated upon, has completed its design and is currently in manufacturing.

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Originating in Silicon Valley, BlueRun Ventures was established in 2005 as a venture capital firm focused on early-stage startups.

BlueRun Ventures currently manages multiple USD and RMB dual-currency funds in China, with assets under management exceeding 15 billion RMB, making it one of the largest early-stage funds domestically. Its investment stage focuses on Pre-A and Series A rounds, covering hard tech and innovative interaction, enterprise technology, new consumer, and healthcare sectors. It has cumulatively invested in over 150 startups, including Li Auto, Waterdrop, QingCloud, Guazi.com, Qudian, Songguo Chuxing, Ganji.com, Energy Monster, Yuntu Semiconductor, Machenike, Yunheng Intelligence, Anxin Wangdun, and BioMap.

BlueRun Ventures has been ranked #1 on Zero2IPO's "China Top 30 Early-Stage Investment Institutions" and ChinaVenture's "China Best Early-Stage Venture Capital Firms TOP30," and was named among Preqin's Top 10 Global VC Fund Managers for Sustained High Returns.

Additionally, BlueRun Ventures has received consecutive year awards from Forbes China, 36Kr, Cyzone, Caixin Media, CBNweekly, Jiemian, and other media organizations for honors including "China's Best Early-Stage Firm of the Year," "China Top Venture Capital Firm," "Early-Stage Firm Most Welcomed by Entrepreneurs," and "Most Influential Early-Stage Firm of the Year."