LiquiGlide came on the scene in 2012 to develop and provide safe, effective liquid-impregnated coatings for use in industry and the consumer marketplace. Massachusetts Institute of Technology professor Kripa Varanasi and Dave Smith founded the company with patented technology developed at MIT.
Equity financing
In January, LiquiGlide closed $16m in funding from investors including Structure Capital, Valia Investments, Struck Capital, and Piot Grove. “What was ground-breaking materials science discovered in a lab at MIT has turned into a commercial technology platform that is revolutionizing the way liquids move,” Varanasi said in press release about the financing early this year.
The company will use the funds as a means to put the LiquiGlide coating technology to work helping other companies limit waste and improve efficiency. “Our investors' vision and strategic support of our mission for a zero-waste economy will help us bolster the expansion of our technology platform as we develop additional coatings for new markets where we believe we can make a significant impact,” adds Varanasi.
Personal care solutions
Among the company’s new commercial packaging applications are coatings for the inside of oral care containers, like toothpaste or denture adhesive tubes. LiquiGlide has also developed solutions for personal care product packages that hold lotions, moisturizers, sun care, or hair conditioner.
The coatings will nearly eliminate the need for slack fill in these packages by drastically reducing friction between the product and the container and making it quite simple for consumers to dispense close to if not all of the product.
“Packages containing viscous products are ubiquitous, and the waste and consumer frustration associated with traditional packaging formats are universal,” believes Varanasi. “As we work with leading CPG companies to bring about a new packaging paradigm, Tom's years of experience and deep understanding of the strategy, marketing and business behind transformative packaging innovation will be invaluable.”
New general manager
The 'Tom' Varanasi refers to is Thomas Britanik, who has been an independent consultant on the company’s board for nearly 2 years. And Britanik’s experience with CPG companies includes having served as senior vice president and chief marketing officer at Clorox and as marketing director at P&G.
“After decades of studying consumer behavior and the impact of packaging innovations, from small graphic design changes to major new form factors, I recognize the tremendous benefits LiquiGlide's technology can have both for CPG companies and their customers,” Britanik tells the press. “I look forward to working with CPG companies to leverage LiquiGlide's innovative technology to create differentiated products that deliver the value and experience today's consumers and investors are demanding.”