Caeli Nova reports it has successfully closed the Series A round of financing for its Cordillera launch product, a passenger emergency oxygen system that it claims can enable airlines to overcome the limitations of operating over challenging routes, such as those over high terrain. With this funding secured, the company is aiming to install the first Cordillera system on an aircraft during 2022.
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. Caeli Nova received initial Design Organisation approval from EASA for the technology in December 2020, following an eight-month process.
The systems could help enable airlines to operate more direct air routes, thus reducing the distance travelled and in turn their fuel usage and emissions levels – as well as enabling shorter flight times.
Tim Wakeford, CEO at Caeli Nova explained the thinking behind the system: “Current regulations limit airlines’ ability to operate the most direct air routes, such as L888 over the Himalayas. Cordillera, which uses our patented breathing technology, allows an aircraft to safely divert at a higher altitude to a suitable airport following a decompression event. As a result, airlines can operate the most optimal routes. In addition to keeping passengers safe and delivering cost and sustainability benefits, continuing the flight at a higher altitude offers the flight crew a safer operating environment in the demanding post-decompression flight phase.”
LG Capital, Switzerland-based venture builder and co-founder of Caeli Nova, spearheaded the company’s CHF 8m (US$8.69m) Series A financing round, which has drawn investments from both the healthcare and 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 Tier 1 aerospace manufacturer.
Tim Wakeford said of the new investors, “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.”
Caeli Nova now employs a team of 40 specialists from across the medical and aerospace sectors from its offices in the UK and Switzerland.
