LiquiGlide, the inventors of a breakthrough technology that eliminates the friction between solids and liquids, Aon plc, a global professional services firm and Atlas Credit Partners, an asset management firm focused on value-oriented credit investments, announced the completion of an intellectual-property based financing deal that provides LiquiGlide with $35 million to expand its commercial activities and continue to develop its platform for new applications.

Invented at MIT by co-founders Dave Smith and Professor Kripa Varanasi, the company's first-of- its-kind, patented technology removes friction between solids and liquids, allowing thick, slow- moving liquids to flow with ease, enabling advancements in packaging, manufacturing and medical devices through safe and sustainable solutions that meet rigorous safety and regulatory standards.

"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," says 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.”

Last spring, Colgate launched Elixir, a new sub-brand of Colgate toothpaste that features redesigned packaging, enabled by LiquiGlide’s EveryDrop technology, that allows consumers to see how much product is left, easily dispense it, and recycle the package. The Colgate Elixir package won the “Best in Show” and “Design Excellence” AmeriStar awards from the Institute of Packaging Professionals, and Colgate recently expanded the brand from Europe to Canada.

“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,” says Alex Ewing, LiquiGlide’s COO.

“Intellectual property continues to be one of the most valuable assets for driving growth, yet it remains elusive in the capital markets,” says 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," says Drew Mallozzi, managing partner of Atlas Credit Partners.

Aon was recently named to Fast Company’s Most Innovative Companies list for its ground- breaking IP solutions. According to Ocean Tomo, IP and intangible assets now represent 90% of the value of Fortune 500 companies, but IP value is not widely understood in capital markets. Aon is working with companies like LiquiGlide to help them access non-dilutive growth capital by valuing intangible assets and structuring capital solutions that leverage such value.