Backers included Structure Capital, Valia Investments, Struck Capital and Pilot Grove. In conjunction with the funding, Jillian Manus, managing partner at Structure Capital, joined LiquiGlide’s board of directors.
The company intends to use the funds to grow its existing packaging business while also accelerating the commercialization of new coating applications in the industrial and food manufacturing markets.
Led by Co-Founder and CEO Dave Smith, LiquiGlide provides a patented technology platform for permanently wet, slippery surface coatings. Developed at the Massachusetts Institute of Technology (MIT) by Professor Kripa Varanasi (Chairman of the Board) and Smith, the company’s coatings are custom-made for each application by combining a porous solid with a liquid that gets trapped within it via strong capillary forces. Industrial applications include reducing waste in manufacturing, better packaging for consumer goods, improving oil and gas infrastructure, among others.
FinSMEs
24/01/2017