– $1.65m raised in first capital raise round
– Nosebuds a drug free alternative for congestion relief
– Successful clinical trials with more underway
Goodair, the New Zealand company that has successfully developed a drug-free alternative to congestion relief, has announced it has raised $1.65m in its first capital raise round.
The new funding will be used to finalise prototypes of the Goodair Nosebuds product and bring it to market in Q2 next year.
Goodair CEO Kerri McMaster says: “We’re thrilled to have the backing of new investors to further develop the Goodair Nosebuds product. Our technology has already proven to be effective for relieving congestion reducing reliance on antihistamines, steroids and other medications.
The Nosebuds enhance diaphragmatic nasal breathing which has a number of additional health benefits which includes easing stress and improving sleep quality. We’re excited to forge on in our efforts to make Goodair Nosebuds an accessible wellbeing product for all.”
In the US up to 30% of the adult population suffer from long-term nasal conditions and spend US$15billion each year on treatments. Up to 40% of the world’s population experience chronic nasal congestion.
The IP patented Goodair technology was designed by Dr David White over nine years at his Bio-design lab at Auckland University of Technology (AUT). Dr White conducted clinical trialsi which resulted in participants experiencing significant improvement with nasal congestion, drainage, pressure, smell, peak nasal inhalation flow and pain relief.
“We found that Goodair Nosebuds stimulated the body’s natural defence system to act as a drug-free filter to decongest, as well as promote better breathing, to support those with hay fever, aid sleep and relieve stress,” says Dr White.
“The Goodair Nosebuds product was well received by trial participants with 88% saying they would recommend it”.
The Goodair Nosebuds are inserted into the nostrils, similar to how ear buds are inserted into ears for audio. Using air, powered by the user’s breath, it creates pressure oscillations (we hear this as sound) that massage the inner nasal tissue and stimulate the cilia. Cilia are micro hairs that beat back and forth, propelling mucus, trapped particles and pathogens out of the nasal system. The Nosebuds also relieve the local inflammation that causes congestion.
Goodair has more clinical trials planned, with some already underway including an upcoming Aged Care trial led by Dr Priya Saravanakumar at the University of Technology Sydney, Australia. This trial studies the effects of sleep, autonomic response and cognitive function pertaining to the Goodair device.
Goodair’s fundraising round was led by deep tech venture capital firm WNT Ventures, with participation by Booster Innovation Fund, and other investors. The $1.65m includes a $750,000 repayable grant from Callaghan Innovation’s technology incubator programme. WNT Ventures Investment Manager Nick Couch has joined the startup’s board.
“As investors, we’re looking for breakthrough innovations that provide measurable improvement to people’s quality-of-life. David’s work is another example of New Zealand’s world-leading research that provides a strong foundation for success,” Couch said. “WNT are excited to partner with Kerri, David and the Goodair team in the development of this disruptive technology as they tackle a substantial global market need.”
The next phases of development include the completion of the additional clinical trials, product design iterations, consumer useability testing and finalising production. Planning is well underway to launch the product in Q2 of 2024.