Pasaca Capital and Honeywell Back Telesair with $22M Series A Round
IRVINE, Calif.--(BUSINESS WIRE)--Jan 10, 2023--
Honeywell and Telesair, Inc., an innovator of next generation respiratory care, jointly announced today that Telesair, Inc. has closed a total of $22 million Series A round financing led by Pasaca Capital with participation from existing and new investors such as ZhenCheng Capital, Shangbay Capital, Device of Tomorrow Capital, Berkeley Catalyst Fund and Ultrastar Ventures LLC.
The round of funding will support the commercialization of Telesair’s Bonhawa Respiratory Humidifier, a unique, differentiated respiratory solution for use in the ICU and the development of a second-generation, revolutionary product designed to get patients out of the hospital sooner and safely at home longer.
“We are excited to be moving into the next step of our evolution as a company,” said Telesair CEO, Bryan Liu. “This funding helps us further advance our mission and fully launch our first generation Bonhawa platform technology as we continue to develop second generation innovations to address a multi-billion dollar market that is underserved today. In an age of dramatically increasing respiratory disease challenges, simple-to-use medical respirators are paramount to treatment and empower patients to experience a better quality of life. We’re delighted that our funding partners share our vision and have confidence in our ability to deliver real solutions to a major global need.”
“Telesair, Inc.’s innovative products, strong team and execution capability fit perfectly to our investment philosophy,” said Charles Huang, Founder and Chairman of Pasaca Capital. “We are proud to support Telesair and be a part of its growth. We look forward to supporting Telesair through forthcoming development and commercialization milestones, and we are excited to see the company’s progress in the months and years ahead.”
Honeywell Ventures is the venture arm of Honeywell that invests in early-stage, high-growth companies that have emerging and disruptive technologies which will change how we live, work and use energy.
“Honeywell is aligned with Telesair’s mission to improve lives through innovation in digital healthcare” said Patrick Hogan, Managing Director of Honeywell Ventures. “We are impressed with their mission and technology roadmap, and we are excited to collaborate with them in critical areas such as advanced sensing and remote patient monitoring, enabled by artificial intelligence and machine learning.”
Telesair, Inc. is a Southern California based, high-growth company that is developing breakthrough solutions to help move patients from hospital to home sooner by providing compact, mobile respiratory care solutions to hospitals, long-term care and skilled nursing facilities, rural health providers, and in the homecare setting. Led by respiratory veterans in both R&D and commercialization, the company has developed a next-gen, advanced respiratory treatment system platform based on state-of-the-art sensor fusion technologies and innovative pneumatics. Telesair’s solutions are designed to elevate the existing standard of care by improving outcomes for patients and the health system. Learn more at Telesair.com.
Pasaca Capital is a Southern California based venture capital firm, which invests in forward thinking ideas, entrepreneurs, and startups that have successfully commercialized gaps in the marketplace while striving to make the world a better place. The firm identifies and provides impact-driven organizations with the capital, support, and networks necessary to achieve exponential financial growth and market leading position. Learn more at pasacacapital.com.
Honeywell ( www.honeywell.com ) delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Its technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
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CONTACT: Media Contact: Paul Williams, MediaLine Communications
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: HOSPITALS HEALTH MEDICAL DEVICES
SOURCE: Telesair, Inc.
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PUB: 01/10/2023 11:50 AM/DISC: 01/10/2023 11:52 AM