Posted July 27, 2021
Liatris Closes $1M Seed Round Led by MD Momentum Fund to Deliver Non-Flammable Insulation Pilot
Liatris is an Advanced Materials Startup Co-Founded by a University of Maryland, College Park Adjunct Professor
Baltimore, Md. (July 27, 2021) - Liatris Inc., a Maryland-based start-up developing advanced thermal insulation materials, announced today that it has raised a $1M seed round led by the Maryland Momentum Fund (MMF) and Old Line Capital, its first external funding round.
MMF invested $250,000 and several executives from sectors in building materials, real estate development and energy efficiency co-invested, including an accredited investor syndicate led by Propel(x), a leading deep tech angel investment platform.
Liatris will utilize the proceeds from this funding round to scale up pilot samples of its first product, a non-flammable insulation board. Liatris is developing an easy-to-install, board-based insulation that will be fully non-combustible according to the ASTM E136 standard (an industry test for materials that are required to be non-combustible). It will be made primarily using low-carbon inorganic materials.
Read the full release from the University System of Maryland.