Participated · Equity · Aug 2023

AeroSafe Global provides Cold Chain as a Service (CCaaS) for biopharmaceuticals, offering reusable thermal packaging, outsourced supply chain services, and a temperature-monitoring control tower under a pay-per-turn program. Its services are designed to ensure safe, sustainable delivery and effective use of pharmaceuticals. More than 45 biopharma companies use AeroSafe to deliver millions of shipments to hundreds of thousands of patients, providers, pharmacies, and hospital systems across 85 countries. The company is led by CEO Jay McHarg and emphasizes operational scale and sustainability in its offering. Following the recent financing, AeroSafe plans to invest in product development and increased operational capacities to support continued customer growth. The article reports a $43M financing raised to support these initiatives. AeroSafe Global provides end-to-end cold-chain-as-a-service (CCaaS) combining proprietary temperature-controlled packaging with supply chain management, data tracking and analytics. Its cost-efficient reuse model and temperature reliability are used by pharmaceutical, biopharmaceutical, specialty pharmacy and medical device customers, including 12 of the top 20 global pharmaceutical companies. Many COVID-19 vaccines and treatments are currently being delivered using AeroSafe’s products and services. The company touts a guarantee of zero temperature excursions and reports its reuse model reduces customer greenhouse gas emissions by 40 million pounds per year. AeroSafe will use new capital to support value-added services and technologies and to further expand into new geographies. Comerica Bank expanded the company’s borrowing capacity as part of the financing. AeroSafe Global provides cold-chain-as-a-service (CCaaS) with proprietary packaging technology, a cost-efficient reuse business model, and data tracking and analytics to ensure safe, temperature-controlled delivery of drugs and devices. The company serves more than 30 Fortune 500 pharmaceutical and healthcare customers and guarantees zero temperature excursions across a range of shipping situations. Based in Rochester, New York, AeroSafe combines patented technology with a logistics platform to offer turnkey cold chain solutions from manufacturer to end-user. The company announced an aggregate $31.5 million growth capital investment to accelerate sales and marketing, launch additional value-added services and technologies, and expand into new geographies. AeroSafe emphasizes sustainability through its reusable packaging model and positions itself as a technology-based service partner rather than a vendor. Management says the funds will support industry adoption and continued innovation to meet evolving cold-chain needs. American Aerogel Corporation develops, produces and sells Aerocore, an aerogel-based insulation product used notably in shipping temperature-sensitive biomedical and pharmaceutical goods. The product is designed to increase energy efficiency, reduce deterioration of shipped goods and cut shipping and transportation costs. The company is expanding its market by developing insulation products specifically for refrigerated trucks and intermodal containers. Led by General Manager Jay McHarg, the firm manufactures its insulation products in Rochester, N.Y. In September 2011 the company received new external financing to support growth and manufacturing expansion. Cycle Capital Management will also support the company through its industry network and cleantech growth experience.