Autonomic Materials Raises $3M to Improve Product

Autonomic Materials, which began as a startup company at EnterpriseWorks in 2007 after being incoporated by Professor Dr. Scott White from the University of Illinois in 2005, has raised $3 million during its third round funding. It graduated in 2012 and moved into a former Syngenta facility  southwest of Champaign. The company specializes in micro-encapsulated self-healing agents for paints and adhesives.

CEO of Autonomic Solutions, Gordan Fischer, says that Solvey, a Belgian chemical company, led the round of funding and will help Autonomic Materials scale up its first product, which is a self-healing paint to be used in industrial facilities. This self-healing paint will help structures made of metal that are prone to corrosion.

Since graduated from EnterpriseWorks, the company has grown to 9 employees including Magnus Andersson and Gerald Wilson. Laura Frerichs, director of the Research Park said, “I applaud the perseverance and persistence of Magnus Andersson…and Gerald Wilson…in working tirelessly as entrepreneurs and scientists bringing their revolutionary product to the market.”

Fischer is excited about this new round of funding, and is encouraged that Solvey took an interest in Autonomic Materials.  “That’s great for us. It shows that a major company sees some value in us,” he said.

Read the full story on the News-Gazette.