Liatris Inc., a Bethesda, Maryland-based startup developing advanced thermal insulation materials, raised $1M in seed funding.
The round was led by the Maryland Momentum Fund (MMF) and Old Line Capital with participation from several executives from the building materials, real estate development and energy efficiency sectors, including an accredited investor syndicate led by Propel(x), a deep tech angel investment platform.
The company intends to use the funds to scale up pilot samples of its first product, a non-flammable insulation board.
Led by Frank Yang, co-founder and President / CEO, Liatris is developing a board-based insulation that will be fully non-combustible per the ASTM E136 standard and made primarily using low-carbon inorganic materials. Liatris has already demonstrated laboratory samples >R-5 / inch (the same insulation value as high-performance foam products) with R&D funding from Sto (the world’s largest supplier of exterior wall systems, which has a purchase order in place to buy future product), the National Science Foundation’s Small Business Innovation Research (SBIR) program, and the Maryland Industrial Partnership (MIPS) program.
The patented technology was developed by Dr. Arthur Yang (Liatris CTO).
FinSMEs
30/07/2021