Plural invests in lithium-sulfur technology developer Molyon

Plural, co-founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, has led a $4.6M round in the Cambridge University spin-out of a developer of lithium-sulfur batteries Molyon. Cambridge-based IQ Capital, Cambridge Enterprise, UK-based Parkwalk Advisors, and angel investors also participated in the round.

Founded in 2024 by Dr. Ismail Sami and Dr. Zhuangnan Li, Prof Manish Chhowalla, and Dr. Sai Shivareddy, Molyon is developing lithium-sulfur (Li-S) batteries, which have a higher energy density than lithium-ion cells. In addition, sulfur is an abundant material compared to the critically rare cobalt used in lithium-ion cells.

Li-S batteries were invented in the 1960s, but scientists have previously been unable to address the phenomenon that when sulfur reacts inside the battery, it accelerates the degradation of the cells, causing the batteries to burn out quickly. 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. MoS2 occurs naturally as a semiconductor, so a key part of the startup’s process is to turn it into a metal to make it conductive. They then use the conductive MoS2 as an additive to the cathode (i.e. the positive battery terminal) — resulting in a stable lithium-sulfur battery.

The startup will use the investment to launch production at its pilot facility in Cambridge. The company plans to expand its workforce by hiring battery engineers, materials scientists, and operations staff.

Founded in 2022 by Sten Tamkivi, Taavet Hinrikus, Ian Hogarth, and Khaled Helioui, Plural leads early-stage rounds between €1M and €10M. In 2023, a new partner, AI-driven biotech HelixNano founder, and VC investor Carina Namih joined Plural. The fund has its own rule that requires all of Plural's partners to make personal co-investments in the deals they lead.