Business class seating manufacturer Unum Aircraft Seating has successfully closed a significant investment round as it seeks to expand its team, scale up its facilities, develop new products and gain new product certifications.
Origin Capital and the Low Carbon Innovation Fund 2 (LCIF2) have become new Unum partners via the investment round, which will support ambitious development plans across Unum’s business.
Chris Brady, Founder and CEO, Unum, says: “This investment round has been a real vote of confidence in our vision to be the sustainable and credible alternative in business class seating. With the support of our investors, we have exciting programme of development ahead of us across our product, teams and facilities – so watch this space!”
Unum is set to expand its range of seats and achieve initial certifications on all products. It will also expand its team, with senior hires planned to build operations, supply chain and through life support teams in readiness for an initial customer programme, expanding on the company’s existing design and certification teams. Unum is also set to create an initial factory blueprint, gain regulatory approvals and invest in the required capital equipment to support its initial production requirements.
Tim de Vere-Green, Founder and CEO at Origin Capital, says: “We have been very impressed by the capabilities and experience of Unum’s leadership team, their passion for the inflight cabin product, and their vision for the business as the credible alternative in premium class seating. As the aerospace market swiftly recovers from the pandemic, and with the global aircraft fleet set to double in the next 20 years, we believe there are significant opportunities for Unum, which offers a great product, produced sustainably.”
David Wright, Director of LCIF2 fund manager Turquoise International, says: “We were attracted to Unum’s commitment to place sustainability at the heart of its organisation – reducing embedded carbon within the seat by choosing the most sustainable materials available, and having an elegance and simplicity of design to reduce weight and therefore fuel burn over the life of the seat. Unum’s products will make a significant contribution to their customers’ journey to net zero.”
Andrew McAuliffe of Origin, and David Wright of LCIF2, will join Unum’s board of directors.
About Unum Aircraft Seating
Unum is the credible alternative in aircraft seating supply, redefining business class comfort through its smart, adaptable, and reliable design. The Unum One family of lie flat business class seats deliver a consistent passenger experience across single and twin aisle aircraft, offering superior comfort and style. Founded by leading aircraft seating executive Chris Brady, Unum has been built from the ground up to satisfy the needs of airlines, procurement teams, designers and engineers. Remarkably reliable and easy to work with, Unum challenges the aircraft seating status quo, so the pain points of delayed deliveries, inflexible service and profit over people become a thing of the past.
About Origin Capital
Origin Capital invests at pre-seed, seed and Series A in early-stage technology businesses.
About Low Carbon Innovation Fund 2
LCIF2 is managed by Turquoise and is a venture capital fund investing in eligible small to medium sized businesses based in England, particularly the areas covered by its local government backers, developing products and services which will have a beneficial environmental impact.
LCIF2 is funded by the European Regional Development Fund (ERDF), following a successful bid by Norfolk County Council and the University of East Anglia. ERDF is an investment programme part financed by the European Union. LCIF2 is part of the UK government’s portfolio of business support products.
LCIF2 has received £10.9m (for co-investment alongside private monies) from the European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Levelling Up, Housing and Communities is the Managing Authority for this funding. Established by the European Union, the ERDF helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations.
All images credited to Unum Aircraft Seating
