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Molyon powers up with $4.6M funding to develop next-gen Lithium-sulfur batteries for robots and drones
Molyon, which develops next-generation batteries with double the energy density of current lithium-ion batteries, has landed $4.6 million in first funding. The round was co-led by IQ Capital and Plural, which recently invested in VSParticle and The Exploration Company. The funding will enable Molyon to expand the team and begin manufacturing at its pilot facility. This will enable the company to develop Li-S batteries for drones and robots, which will benefit from the lighter weight and improved range that Molyon’s batteries will provide.
Molyon has emerged from 15 years of material science research in the Chhowalla Group at the University of Cambridge. It was founded by Dr. Ismail Sami and Dr. Zhuangnan Li, who met whilst studying under co-founder Professor Manish Chhowalla. Dr. Sai Shivareddy (co-founder and CEO of battery technology startup Nyobolt) also joined the founders to discover and develop this high-performance cathode technology. Molyon’s technology is based on metallic molybdenum disulfide (MoS2), which allows sulfur to remain stable and provide high energy density over hundreds of cycles. It revolutionises the Li-S battery field.
Ai Build raises $8.5M Series A funding for additive manufacturing software
Additive manufacturing software startup, Ai Build, has raised a Series A round of $8.5 million led by IQ Capital, bringing the company’s funding to $13.5 million. Ai Build will use the funding to accelerate its product roadmap, allowing it to onboard more customers with higher automation and AI capabilities. Investment will also enable the opening of a subsidiary in the US, and continued European expansion.
It partners with major manufacturing firms, including Boeing, to expand the use of additive manufacturing in large-scale industrial applications, such as specialised tooling and end-use components in aerospace, automotive, and energy sectors. Customer benefits include a 65 percent decrease in failed production attempts and a 90 percent increase in overall build efficiency.
🛰️ QuadSAT Secures €9 Million Funding to Scale Up Operations and Expand Product Range
QuadSAT ApS has secured €9 million in funding. The Danish company is revolutionising the satellite industry by making it possible to accurately measure and calibrate antennas and satellite systems anywhere in the world. The funding round was led by IQ capital and supported by current investors, including the world’s leading space tech fund, Seraphim Space, Danish state Vækstfonden, and angel investors Torben Frigaard Rasmussen and Helge Munk.
QuadSAT’s unique testing solution provides a cost-effective, scalable and precise way to test antennas and satellite systems in operation, and anywhere in the world. This approach to testing has already attracted the attention of the satellite industry, helping QuadSAT to cement its position as a major player in the market. With the new funding, QuadSAT will be looking to recruit top talent, to expand its operations, and bring its technology to a wider customer base.
Battery material company Nyobolt raises $10m
Led by IQ Capital with participation from Cambridge Enterprise and Silicon Valley investors, the funding will be used to expand the company globally, build new facilities, and grow the engineering and operational teams.
Nyobolt (formerly CB2Tech) developed out of research at the University of Cambridge led by battery materials expert, Professor Clare Grey, and Dr. Sai Shivareddy. The company is rapidly expanding its global technical and commercial presence, with teams in the UK, the US and Asia, with decades of experience at Tesla, Samsung, Dupont and Dyson.
The company has developed a proprietary process using niobium-based anode materials to create batteries that deliver record high power, ultrafast charge and high energy. The charge and discharge rate capability of Nyobolt batteries, extensively recorded in academic journals, presents a huge opportunity to supercharge the electric revolution. The batteries also address other major challenges facing much existing technology, as they operate within a wide temperature range and are highly durable.