MAKO raises AU$28m to accelerate aircraft drag-reduction technology
Australian aerospace technology company MAKO has raised AU$28 million (US$20 million) in a Series A funding round to accelerate certification, manufacturing and delivery of its Flightfilm drag-reduction technology for commercial and defence aircraft.
The funding round was led by Virescent Ventures, with participation from International Airlines Group (IAG) through IAGi Ventures, alongside Zero Infinity Partners, Grok Ventures, Skip Capital, IP Group and TreeArc Investment Group.
Inspired by the microscopic texture of shark skin, Flightfilm is an adhesive surface film designed to reduce aerodynamic drag, cutting fuel consumption, operating costs and carbon emissions.
The product can be applied during scheduled maintenance without requiring structural modifications to the aircraft.
Flight testing with the US Air Force on a C-130J Super Hercules recorded a net drag reduction of more than 4%, while the company is also preparing operational trials on the C-17.
MAKO said the investment will support commercial airline and defence customer orders, expand its certified manufacturing capability and advance certification of Flightfilm for the Airbus A320, which is expected within the year before extending to additional aircraft types.
The company already has a partnership with Delta Air Lines through its Sustainable Skies Lab and plans further airline trials in the Asia-Pacific region.
IAG also intends to begin testing the technology with one of its airlines later this year.
Henry Bilinsky, chief executive of MAKO, said: “We’re flight proven, manufacturing ready, and have commercial and defence customers lined up. This funding accelerates MAKO’s mission as we complete certification, deliver to those customers, and scale production for the global aviation fleet.”