Cambridge-based startup Molyon, which develops long-lasting lithium-sulfur batteries with twice the energy of lithium-ion ones, has secured $4.6 million in funding co-led by IQ Capital and Plural. The investment will support team growth, including hiring battery engineers, material scientists, and operational staff.
- Founded in 2024 by Dr. Ismail Sami and Dr. Zhuangnan Li, Molyon develops lithium-sulfur (Li-S) battery technology designed to deliver higher energy density and lower weight compared to lithium-ion batteries.
- The company, spun out from Cambridge University, uses a patented process involving metallic molybdenum disulfide (MoS2) as a cathode additive. This innovation stabilizes sulfur reactions, addressing the issue of rapid degradation that has historically limited the lifespan of Li-S batteries.
- Molyon’s technology is being developed for applications requiring lightweight, high-performance batteries, such as drones, robotics, and electric vehicles.
Details of the deal
- The investment was co-led by IQ Capital, a Cambridge-based venture capital firm that supports deep-tech startups from Seed Stage to Exit, and Plural, a VC founded and led by former startup founders and Europe’s active angel investors. In January, the firm raised a €400 million fund aimed at creating a GDP-level impact in Europe.
"With demonstrated pouch cell energy density of 500 Wh/kg — over 2x typical Li+ — Molyon will unlock battery markets in drones, robotics, EVs, and storage, and they’re just getting started on performance," IQ Capital's team, commented on LinkedIn.
- The round also saw support from Cambridge Enterprise, UK's VC Parkwalk Advisors, and angel investors.
- Molyon plans to use the funds to expand its team and start manufacturing at its pilot facility, focusing initially on developing lightweight, long-range batteries for drones and robots.
