By Dan Mayfield
Aspen Avionics said Thursday it has received $12.8 million in new equity financing from seven investment groups.
Aspen builds in Albuquerque several high-tech instruments used in general aviation cockpits.
The new investment brought all of Aspen’s previous venture investors together, as well as an investment group led by Dr. John B. “Jack” Mowell and Capt. Joseph D. Burns, who will join Aspen’s board.
“These new investment dollars will assure that we can continue our growth as a major player in our industry,” said Aspen’s President and CEO John Uczekaj in a news release. “Aspen is thrilled to welcome Dr. Mowell and Captain Burns to our board of directors. Their in-depth experience in the aviation industry and regulatory agencies, combined with their visionary business acumen, make them a perfect fit for Aspen’s senior advisory team. Jack’s and Joe’s input will be invaluable to Aspen’s future growth initiatives.”
Mowell was previously executive director and chairman of the board at EMS Technologies, a communications company. Burns is the managing director of technology and flight testing at United Airlines. He also serves on the FAA’s NextGen Advisory Council Subcommittee and is a former chairman of the A4A Air Traffic Council.
Previous Aspen investors that participated in the round include Granite Ventures, Sun Mountain Capital, Signal Peak Ventures, EPIC Ventures, Fort Washington Capital Partners and New Mexico Community Capital.
Aspen’s latest Connected Panel line of instruments is based on the iPad, and allows pilots to download a variety of data from instruments, including flight plan data.