AeroSafe Global, a Rochester, N.Y.-based cold-chain-as-a-service (CCaaS) company, closed a $47.5m round of growth financing.
Backers included new investors Merck Global Health Innovation Fund (GHI) and Escalate Capital, and existing investors Peloton Equity, LLC (Peloton), Hamilton Lane, Flexstone Partners and WAVE Equity Partners. Comerica Bank also expanded the company’s borrowing capacity as part of the round. Concurrent with this investment, Joe Volpe from Merck GHI fund and healthcare executive Robin Smith Hoke are joining AeroSafe’s Board of Directors.
The company will use the funding to support new value-added services and technologies, and further expand into new geographies.
Led by Jay McHarg, Chief Executive Officer, AeroSafe is an outsourced cold-chain-as-a-service (CCaaS) solutions provider to the pharmaceutical, biopharmaceutical, specialty pharmacy and medical device industries, including 12 of the top 20 global pharmaceutical companies. Its packaging technology, cost- efficient re-use business model, and data tracking and analytics ensure the safe, efficient and sustainable delivery of temperature-sensitive drugs and devices, while providing customers with a streamlined solution for the entire cold chain from manufacturer to end-user.