Drag reduction aerospace startup Mako takes off with $28 million Series A

Drag reduction aerospace startup Mako has raised a $28 million Series A to speed up rollout of its Flightfilm technology, designed to cut drag on aircraft using a sharkskin-inspired film. The Sydney-based company said the system can reduce fuel burn by up to 4% per aircraft, after flight testing on a US Air Force C-130J “Super Hercules.” The round was led by existing investor Virescent Ventures, with support from IAG, Zero Infinity Partners, Grok Ventures, Skip Capital, IP Group and TreeArc. The funding follows a $3.07 million federal Industry Growth Program grant received three months earlier for manufacturing and certification equipment. Mako will use the Series A for regulatory approval in Australia, Europe and the USA and to produce plan skin for pre-orders. Customers and partners include Delta Air Lines, IAG subsidiary Vueling and defense clients.