LiquiGlide raised a $35 million intellectual property–based funding deal in collaboration with Aon and Atlas Credit Partners.
WHO: LiquiGlide was invented at MIT by co-founders Dave Smith and Professor Kripa Varanasi. The company's first-of-its-kind patented technology removes friction, allowing thick, slow-moving liquids to flow with ease. By eliminating friction, LiquiGlide has made previously impossible advancements in packaging, manufacturing, and medical devices a reality via safe and sustainable solutions that meet rigorous safety and regulatory standards.
WHY: The deal that provides LiquiGlide with $35 million to expand its commercial activities and continue to develop its platform for new application.
IN THEIR OWN WORDS: "We are surrounded by liquid products—from food or cosmetics in everyday life to valuable drugs or biologics in industry. Until now, we've accepted significant waste, whether in manufacturing or in packaging, as part of the price for these products because they stick to containers or devices they touch," said Kripa Varanasi, a MIT professor and co-founder and Chairman of LiquiGlide. "By eliminating friction, LiquiGlide's technology removes this basic constraint. Now, we can dispense every last drop, minimize yield loss in manufacturing, and reduce occlusions and infections in medical devices. Our team is on a mission to change the paradigm across industries to usher in sustainable products and processes as well as improve patient experiences and outcomes."
"Aon and Atlas Credit Partners are innovative collaborators, who we are excited to have on board for the next phase of growth. This capital allows us to scale our business and technology across packaging and biomedical applications to create products, systems and processes that are better for businesses, people and the planet," said Alex Ewing, LiquiGlide's Chief Operating Officer.
"Intellectual property continues to be one of the most valuable assets for driving growth, yet it remains elusive in the capital markets," said Lewis Lee, CEO of Aon's Intellectual Property Solutions. "Being able to better value and define intellectual property as an asset class creates new capital solutions for companies such as LiquiGlide and underscores the importance of IP for companies at all stages."
"We are both privileged and excited to work with the Aon and LiquiGlide teams to create a value-enhanced capital solution. Our structure will allow LiquiGlide to further advance the commercialization of its groundbreaking technology," said Drew Mallozzi, Managing Partner of Atlas Credit Partners.
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