A London startup behind emergency oxygen systems for aircraft has raised £6.5 million in Series A funding.
Caeli Nova will use the funding to install Cordillera, its launch product, on to its first passenger aircrafts in 2022.
It says the system overcomes limitations associated with the existing technology, while significantly reducing costs and carbon emissions for airlines by enabling aircraft to fly the most direct routes.
LG Capital, Switzerland-based venture builder and co-founder of Caeli Nova, spearheaded the financing round, which has drawn investments from both the healthcare as well as the aviation sectors.
The round was led by principal investor Ornament Health, a Swiss digital health company. Other primary financing partners participating in this round included Latécoère, a leading stock market listed Tier 1 aerospace manufacturer.
Tim Wakeford, CEO of Caeli Nova, said: “We’re very excited to be moving forward with our new investors in this financing round, including Ornament Health and Latécoère, to advance Cordillera’s benefits for air carriers.
“Their support will provide a valuable foundation for the first installations of our technology in the aviation market. We further would like to leverage our technology to explore its application in other markets, for example providing better oxygenation to patients across clinical and hospital settings.”
Prior funding in Caeli Nova has also included a seed financing round as well as grant support from the UK government via the Innovate UK programme.
The company now employs a team of 40 specialists from across the medical and aerospace sectors from its offices in the UK and Switzerland.