Portfolio company Pyper Vision signs deal with British Airways subsidiary & Air New Zealand

New Zealand innovator Emily Blythe’s homegrown fog-busting technology has made inroads with British Airways.

Blythe’s company Pyper Vision has signed a memorandum of understanding with BA CityFlyer, a wholly-owned British Airways subsidiary based at London City Airport.

This follows the earlier announcement by Pyper vision that Air New Zealand will start a trial with Emily Blythe’s homegrown technology, confirming a beta trial with Pyper Vision’s fogcast to be deployed across the airline’s entire network next month.

“Fog forecasting and fog prediction is inherently inaccurate and we’ve had to live with it as an industry,” Captain David Morgan told the Herald.

Forecasting accuracy varied from place to place. That translated into real operational problems for airlines, which resulted in problems for customers, Morgan said.

“‘Operational surety’ is the phrase that we like to use, so they can give people confidence they’re going to get to their destination.

Blythe is the founder and chief executive of Pyper Vision, which is developing a deep-learning model to better predict fog and cut down on false alerts that ground aircraft and delay travellers.

She started learning to fly as a 12-year-old on a farm, and has been working to get her PPL (private pilot’s licence).

‘We’ve looked at the accuracy of forecasting fog in both New Zealand and in the UK. And when you dig down to the crux of the problem, 70% of fog forecasts that go out result in no fog forming,” she told the Herald.

“So you’ve got, 70% of the time, the industry having to react to a problem that doesn’t actually eventuate.”

Blythe’s Pyper Vision is also raising money to commercialise its FogCast product.

“We’re going out to existing investors. We just had our first close on our raise, which is awesome,” Blythe said.

“It’s our fourth capital raise, and that combined with some of the R&D funding that we’ve got will give us just over a year’s runway, which is awesome, which will see us through these trials.”

Blythe was back in New Zealand after a trip over summer to Britain, where she met with London City Airport, close to the business hubs of Canary Wharf and the City.

Now she’s secured that airport as Pyper Vision’s first international customer.

London City Airport chief executive Alison FitzGerald said Pyper Vision’s technology could revolutionise the aviation industry.

“We are excited to deliver our first forecasts from our weather station in just a few months, which will be used to help operational planning,” FitzGerald said.

Air New Zealand and Pyper had a three-phase programme.

First involved building a model.

The second involved running trials.

And the third phase would involve Pyper Vision providing a product to Air NZ on a commercial basis.

Morgan said for pilots, any fog forecast could not be ignored, and fog rendered many airports inoperable.

“Many airlines like Air New Zealand have the capability of operating in fog. And in the case of New Zealand, the jet fleet is capable of doing that because they’re certified to operate in those conditions, but that’s only on one runway here in Auckland.”

For regional airports, if fog was forecast, operations had to be modified – meaning flights were typically delayed or cancelled.

He hoped Pyper Vision’s technology breakthroughs would mean fewer hassles for pilots and passengers.

Source: https://www.nzherald.co.nz/business/aerospace-pyper-vision-joins-up-with-air-nz-to-trial-fog-casting-technology/HDCJPPVKEZGCDFMF4IZTTLTDMY/

https://www.nzherald.co.nz/business/companies/airlines/fog-caster-start-up-pyper-vision-signs-deal-with-british-airways/DDJIE5LKH5CPHLNPR43VFPE5AE/ (Paywall)

Emerge (Mainland Portfolio company) Raises $12m To Redefine Banking

Just months after launching its business accounts and cards, Emerge has raised a $12m Series A funding round on its path to creating NZs first challenger bank.

Jamie Jermain and Jovan Pavlicevic (the founders behind SquareOne) started Emerge to address the extremely frustrating challenges around business banking in New Zealand. While they’re keen to underscore Emerge isn’t a registered bank – yet – Pavlicevic comments: “Emerge was built to help Kiwi businesses do more, faster, better. In just a few minutes, you’ve opened as many Emerge accounts as you need, with features better than the banks, and team cards ready to go. Against the months of work and paper forms needed in applying for a legacy bank account, we’re seeing very fast customer love – and we’re just getting started.”

Led by Altered Capital with support from Icehouse Ventures, K1W1 and NZ Fintech Fund in New Zealand and US VC Hard Yaka, the raise will be used for key marketing, sales, and product hires as well as the ramp up of the startup’s go-to-market strategy. “Feedback from customers has been overwhelmingly positive. They love how fast, easy, and transparent everything is, and the time and money they save which goes back into their business – so now it’s time to share this with even more of the country,” comments Jermain.

Redefining banking, with the backing to pull it off

This is the second investment round led by Altered Capital. “Emerge believes in New Zealand’s entrepreneurial potential, and its frictionless experience is already having a massive impact on the way that Kiwis manage their money. We’re excited to support them to redefine what banking can be: from New Zealand to New Zealand and the world,” comments McGregor Fea, Managing Partner of Altered Capital. Altered Capital was one of the earliest investors in the huge challenger banking success out of the UK, Starling Bank.

Banking that works at the speed of business

“We’ve built the industry’s simplest offering. No branch visits and no paperwork are needed thanks to a fully digitised onboarding process,” explains Jermain. With Emerge, a business can open an account instantly in-app, from home. They can then generate new cards in an instant with centralised limits, controls, and real-time notifications – doing away with messy and time-consuming processes like expense claims.

Emerge is also releasing features previously unseen in New Zealand. EmergePay turns every phone into a payment terminal. Batch payments allow businesses to pay all of their invoices straight from their accounting software. Enriched transactions take all of the guesswork out of where your money has been spent. And that is just the start. Emerge intends to completely redefine what a bank can be with its roadmap of innovations in payment acceptance, accounting tools and more.

Eyes on the future

For now, Emerge isn’t a registered bank – but has plans to become a fully-fledged challenger, with the express purpose of helping customers to do more with their money. That starts with kids (through SquareOne), to business owners (through Emerge) and (coming soon) individuals and sole traders too.

“Emerge is so much more than just better business accounts – it’s a gateway to smarter, faster business operations. With this new capital, we’re excited to really expand our impact and keep helping NZ do more with money,” concludes Pavlicevic.

About Emerge

Emerge is a digital-first banking alternative, built to allow businesses to go faster, be more cost-effective, and save time.

Combining cutting-edge technology with the best industry practices, Emerge will make managing finances for business owners, operators and teams a breeze.

It’s one platform. Zero fees. All your business finances. Done better.