LiquiGlide raises $16 million to get each final drop out of packages or tanks
In the event you assume it’s irritating attempting to get that final drop of ketchup out of the bottle, or toothpaste out of the tube, think about having to waste and clear precious and sticky substances from pipes or tanks in a manufacturing unit.
A startup known as LiquiGlide has raised $16 million in a brand new spherical of enterprise funding to convey its patented slippery coatings to producers all over the world. Co-founded by CEO J. David Smith and Chairman of the Board Kripa Varanasi, LiquiGlide is an MIT spinout that made its debut on the college’s marketing strategy competitors the MIT 100okay in 2012.
Smith defined right here’s how the corporate’s coatings work:
“Think about putting oil in a frying pan. It’s a great lubricant. But oil wears off over time and can get into your food. This is a permanent, liquid impregnated surface. We lay down a textured solid layer, something like a thin sponge, that traps liquid there through strong capillary force. Then, whatever you want to slide on top of that can move around because the liquid is mobile.”
LiquiGlide’s proprietary method consists of flavorless, odorless and already FDA-approved elements, Smith stated. The coating doesn’t intervene with recycling. The CEO stated, “Eliminating the need to wash out a container improves the chances that someone will recycle it. And clean materials are easier to recycle, so we can improve the sustainability of packaging overall.”
TechCrunch requested Smith if LiquiGlide staff use the coating to make something for their very own enjoyable, like lightning-fast snowboards or a ridiculously efficient Slip-N-Slide. The CEO stated not but, however the Cambridge, Mass.-based startup has been inundated with inbound requests from college students, inventors and companies that need to use the coating in a variety of purposes.
Staying centered is a problem, he admits. However traders count on LiquiGlide to make use of its funding for hiring as wanted, and to deal with “packaging and tanks,” i.e. corporations that make shopper packaged items and packaging, or companies that make industrial tanks or require their use.
Buyers in LiquiGlide’s new spherical included: Construction Capital, Valia Investments, Struck Capital, Pilot Grove and others who Smith didn’t have permission to call. The funding brings the corporate’s complete fairness raised to $25 million to-date. Its final spherical of $7 million was led by Roadmap Capital.
Managing Companion at Construction Capital, Jillian Manus, stated: “We brand ourselves as the ‘architects of the zero waste economy.’ And LiquiGlide is like a poster child for us in a lot of ways. It represents the entire thesis here because this helps reduce wasted water, solvents, energy, product and packaging.” She stated the corporate is dealing with an enormous, and fast, international market alternative with pressing curiosity from automakers in each the US and China.
Whereas Smith didn’t have permission to call the entire companies which can be testing or utilizing LiquiGlide’s coatings of their packaging or gear already, the corporate beforehand introduced offers to work with Norwegian packaged items conglomerate Orkla, Elmers the glue makers, and the Pact Group in Australia, a significant packaging maker there.
Featured Picture: LiquiGlide Inc.