OpenAirlines, a provider of eco-flying software solutions, has raised close to €45 million to further the ecological transition in aviation. Led by Eiffel Investment Group with support from Mirova, The Caisse de Retraite du Personnel Navigant Professionnel de l’Aéronautique Civile (CRPN) is also expected to join by the end of the year.
The aviation sector is under pressure to reduce its environmental impact, as it accounted for 2% of global CO₂ emissions in 2022. Fuel, a major cost for airlines, represents around 30% of operating expenses, making it an important target for efficiency improvements. Founded by Alexandre Feray in 2006, OpenAirlines is dedicated to tackling this challenge by developing digital solutions that optimise fuel consumption and lower CO₂ emissions.
Breakthrough technology for sustainable aviation
OpenAirlines’ flagship solution, SkyBreathe®, is a digital environmental performance management tool designed to assist airlines in reducing fuel use and emissions throughout the flight cycle. This Software as a Service (SaaS) platform utilises machine learning and AI, processing data from over 15 million flights to offer actionable eco-flying recommendations. SkyBreathe® has helped airlines cut fuel usage by 3-5% per flight, achieving returns on investment of up to 15x. OpenAirlines aims to further enhance SkyBreathe® with real-time recommendations for pilots via its cockpit connectivity technology, SkyBreathe OnBoard.
Alexandre Feray, CEO of OpenAirlines said: “Thanks to the support of Eiffel Investment Group and Mirova, we now have the resources we need to position ourselves as an aggregator within our market. We will be able to make bolt-on acquisitions aimed at beefing up our range of products and services and thus cater to airlines as a real digital game-changer when it comes to reducing carbon footprints. Having already embedded our technology in the cockpit, our aim now is to rally all business lines around a joint project: to combine operating performance with environmental engagement in order to help build a more sustainable aviation industry.”
Over 70 airlines globally, including Air France, Korean Air, and JetBlue, currently use SkyBreathe® to reduce their carbon emissions. In 2023, OpenAirlines’ clients saved 420,000 tons of fuel and prevented 1.4 million metric tons of CO₂ emissions—equivalent to seven times the CO₂ savings from all sustainable aviation fuels produced globally in the previous year.
The company, which has been profitable since 2021 and recorded 30% annual growth over the last five years, achieved €10 million in annual recurring revenue (ARR) in 2024. OpenAirlines, headquartered in Toulouse with offices in the United States, Canada, and Hong Kong, generates 37% of its revenue in Europe, 30% in the Americas, and 33% in the Asia-Pacific, Middle East, and Africa regions.
Building a sustainable future for aviation
With the fresh funding, OpenAirlines plans to scale up its operations and reinforce its position as a leading provider of sustainable aviation solutions. The company’s goals include expanding its business in North America and Asia, developing tools for air traffic controllers, and supporting airlines in meeting stringent ESG requirements.
“OpenAirlines is currently the only player on the market offering airlines the actual tools they need to take urgent action, bearing in mind that the industry has net zero emissions targets to meet by 2050 and that the requirement to integrate sustainable aviation fuels will take time to deliver any benefits. The company is already generating an impressive financial and non-financial impact, and we are delighted to support it through this next phase of its development,” said Céline André, Director of the Eiffel Essentiel fund.
“The aim of our strategy is to combine financial returns with support for the environmental transition by deploying acceleration capital that finances innovative solutions. OpenAirlines is an inspiring example of how technological innovation can help industries transition to a more sustainable business model. OpenAirlines makes use of advanced environmental performance management solutions and therefore also offers concrete tools geared towards helping airlines reduce their carbon emissions and operating expenses. We are excited to become involved in the next stages of OpenAirlines’ growth trajectory,” added Youssef Belatar, Investment Director at Mirova.
Read the orginal article: https://www.eu-startups.com/2024/11/toulouse-based-openairlines-secures-nearly-e45-million-to-accelerate-sustainable-aviation-solutions/
