Molymem is dedicated to addressing the global need for cleaner water through its innovative technology. The company has developed an energy-efficient and versatile membrane coating utilizing molybdenum disulfide (MoS2), which has been specially modified for use in water filtration.
This ground-breaking technology is poised to be both environmentally friendly and cost-effective. With additional investment, Molymem aims to fast-track its business development, expand its technology platform, and grow its team.
The technology was developed from research and patented innovations led by Professor Rob Dryfe and Dr. Mark Bissett at The University of Manchester. Their work was supported by the university's Graphene Engineering Innovation Centre (GEIC) and its team of innovation experts.
Molymem was spun out in December 2022, securing £500,000 in SEED equity funding from Cambridge Angels. To date, the company has raised £1 million in SEED funding, all from angel investors.
Ray Gibbs, chairman and director at Molymem, said: "This additional funding will enable the company to quickly scale operations and deliver on its mission. The angel investor confidence in the core team, the technology and the market need for our solution is a powerful endorsement for the Molymem business."
Dr Mark Bissett, chief scientific officer and co-founder of Molymem and reader in nanomaterials at the dept of materials, added: "This additional funding will allow us to accelerate our R&D program and expand to other 2D materials also covered in our patented technology, while also increasing the speed of our scale up of the technology."
Marc Shirman, head of investment at GC Angels, said: "The lack of pre-revenue investors in the UK remains a challenge for our early-stage ecosystem. GC's investment in Molymem's innovative nano-technology illustrates our commitment to pre-seed investment.
"Molymem's particle filtration membrane product has the potential to solve the global problem of access to clean water for the disadvantaged parts of the world."