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IP Group Australia has joined a $A28 million Series A funding round to scale production of an innovative drag-reducing adhesive skin for planes that was inspired by shark skin.

Sydney aerospace technology company MAKO is deploying the capital to manufacture its Flightfilm product and deliver on commercial airline and defence pre-orders.

Flightfilm significantly improves flight efficiency by reducing drag, saving fuel and lowering an aircraft’s emissions by up to 4 per cent.

It requires no structural modification to an airframe and is installed during scheduled maintenance.

Flightfilm’s performance has been validated in flight testing and MAKO is undertaking further trials with the US Air Force.

IP Group Australia Senior Investment Manager Shane Meaney said aviation accounts for approximately 2.5 percent of global emissions and the number of fuel-burning commercial aircraft will double by 2040.

“That means aviation's near-term emissions reduction targets must be met by aircraft already flying and every percentage point of fuel burn reduction counts,” Mr Meaney said.

“This is an exciting investment and just like its shark namesake, MAKO is moving fast with commercial airline and defence contracts signed.”

The funding round was led by Virescent Ventures with IP Group Australia joining International Airlines Group, Zero Infinity Partners, Grok Ventures, Skip Capital, and TreeArc Investment Group.

The investor group represents a coalition of climate finance, deep technology investment, and aviation industry capital backing a single aviation efficiency technology.