The company has now moved to an 11,000-square-foot laboratory and office space in Cambridge, US.
Bringing its technology to market as soon as possible
Dave Smith, CEO, LiquiGlide, told FoodProductionDaily it has seen significant demand from the food industry with its durable permanently wet coatings that enables sticky foods to slide easily.
“LiquiGlide has the potential to dramatically reduce food waste for consumers and manufacturers alike, resulting in significant cost savings and improved customer satisfaction,” he said.
“We truly believe LiquiGlide will become an industry standard and we are dedicated to bring our technology to the market as quickly as possible.
“The support from Roadmap Capital will help us build our customer base across industries and attract innovative scientists.”
Combines a porous solid with a liquid
LiquiGlide’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. The coatings can be made from edible ingredients, making them safe for food and other consumer goods.
The company has more than 30 paying clients across multiple industries and more than 20 employees.
Hugh Cleland, CEO and portfolio manager, Roadmap Capital said the company was not just going to act as capital investors as part of the deal, but strategic partners and advisors.
“We are looking forward to working closely with LiquiGlide's management team to help them grow their business and rapidly bring their technology to market,” he said.
LiquiGlide’s patented technology platform for permanently wet, slippery surface coatings was developed at the Massachusetts Institute of Technology (MIT) by Kripa Varanasi and Smith, who co-founded LiquiGlide Inc.
The product gained recognition in 2012 after winning the Audience Choice Award at the MIT $100K Entrepreneurship Competition and first prize at the Mass Challenge, and after its ketchup bottles went viral.
Thousands of potential customers inquired about the technology, including large consumer packaged goods companies, and LiquiGlide Inc. was founded to commercialize MIT’s patents for liquid-impregnated surfaces.