IIT Madras is emerging as a powerhouse for tech startups, and Mahindra Group Chairman Anand Mahindra believes it could rival Silicon Valley. “IIT Madras promises to rival Silicon Valley in terms of nurturing startups…! Almost every week there’s news of a new ‘TechVenture’,” he wrote on X.
Highlighting one such startup, he added, “What I like about this one is not just the promise of exploitation of our vast waterways, but the fact that the design of the craft is stunning! Design Rules!”
The startup in question, Waterfly Technologies, is developing electric seagliders — also known as Wing-in-Ground (WIG) craft — a sustainable alternative to air and ferry travel. These crafts lift off from water, maintain a steady altitude of four meters, and use ground effect to maximize efficiency. Capable of reaching speeds up to 500 km/h, they promise the speed of an aircraft with the affordability and maneuverability of a boat, the company recently said as per Moneycontrol.
At Aero India in Bengaluru, Waterfly showcased its design and announced that its first prototype — a 100 kg version—will be ready by April 2025. A larger, one-tonne prototype is planned by the end of the year, followed by a full-scale version with a 20-seat capacity and a four-tonne payload by 2026.
CEO and co-founder Harish Rajesh said the WIG craft could slash travel costs significantly. “Travelling from Kolkata to Chennai via WIG craft will cost just ₹600 per seat for a 1,600 km journey, far cheaper than an AC three-tier train ticket, which costs over ₹1,500,” he told Moneycontrol.
According to Rajesh, this ground-effect aircraft takes off from water, flies at an altitude of around four meters, and maintains that height throughout its journey. The craft’s ability to skim over water eliminates the need for airport infrastructure, making it a cost-effective solution for coastal and island transport.
Waterfly aims to manufacture and sell these seagliders to airline operators while also exploring military applications. Though designed for water, it can also fly over ice, deserts, or any obstacle-free terrain, Rajesh said, adding that the startup envisions routes such as Chennai-Singapore and the first intercontinental route — Dubai to Los Angeles — by 2029.