Consegna Group (ASX: CGP) has raised $1 million to accelerate the launch of its Turbine breath assistance product for athletes in Australia later this year.
Proceeds from the raising will also allow the company to progress development of its sleep and drug delivery programs.
The funds were raised through a placement of 25 million new shares at $0.04 each, representing a small 5% discount to the last traded share price, to professional and sophisticated investors through Peloton Capital.
Turbine uses the company’s BreatheAssist technology and can deliver to athletes on average 38% increase in airflow through the nasal passages.
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