Roadmap Capital (Toronto, ON, Canada) has invested $7 million in equity funding in LiquiGlide Inc. (Cambridge, MA), enabling the company to secure commercial deals in multiple market verticals and accelerate its growth strategy. The influx of capital has enabled LiquiGlide to move into a new 11,000-square-foot, state-of-the-art laboratory and office in Cambridge, which will help the company continue to attract top scientists.
As reported in PlasticsToday in July 2014, LiquiGlide makes slippery coatings for plastic surfaces that enable viscous liquids to easily slide. The technology, which was developed by the Varanasi Research Group laboratory at the Massachusetts Institute of Technology (MIT), targets plastic containers for sticky consumer packaged goods such as ketchup, mayo, lotion, and even glue.
"We see unlimited potential for our slippery coatings and feel a sense of urgency to bring them to the industries where they can make a real impact," said LiquiGlide co-inventor and CEO Dave Smith, in a prepared statement. "The support from Roadmap Capital will help us build our customer base across industries and attract innovative scientists."