Pasaca Capital and Honeywell have backed respiratory technology company Telesair Inc. with a total of $22 million Series A round financing to support a high flow oxygen solution for the homecare setting.
The funding, with participation from existing and new investors such as ZhenCheng Capital, Shangbay Capital, Device of Tomorrow Capital, Berkeley Catalyst Fund and Ultrastar Ventures LLC, will support the commercialization of Telesair’s Bonhawa Respiratory Humidifier, a respiratory solution for use in the ICU, as well as the development of a product designed to get patients out of the hospital sooner and safely at home longer.
“The Bonhawa high flow oxygen therapy device is just the first step in our development,” said Telesair CEO, Bryan Liu. “Telesair’s goal is to introduce a second-generation, revolutionary version designed specifically for the home respiratory market so that we can play a role in getting patients out of the hospital sooner and safely at home longer. This new funding will help us to achieve that goal.”
The funding helps Telesair advances its efforts to launch its first-generation Bonhawa platform as well as develop its second-generation innovations to address a multi-billion dollar market that is underserved today, according to Liu.
“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,” he added.
“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.
“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.”
