Aspen Avionics, an Albuquerque, NM-based provider of evolution flight display systems, has closed a $12.8m equity financing.
The company intends to use the proceeds for continued product and development of emerging technologies.
Backers include previous investors Granite Ventures, Sun Mountain Capital, Signal Peak Ventures, EPIC Ventures, Fort Washington Capital Partners and New Mexico Community Capital, as well as a new investor group led by Dr. John B. “Jack” Mowell.
In conjunction with the funding, Jack Mowell and Captain Joseph D. Burns, Managing Director of Technology and Flight Test at United Airlines, will join Aspen’s board.
Founded in 2004 by President and CEO John Uczekaj, the company provides evolution flight display systems certified for General Aviation Aircraft, Class III Aircraft, and Helicopters. Aspen’s first product, certified in November 2005, is the AT300 Hazard Awareness Display, a combined terrain awareness display and vertical speed indicator, designed to directly replace a mechanical vertical speed indicator.