Cambridge spinout Molyon bets on lithium-sulfur in race for better batteries

Nov26
by on November 26, 2024 at 9:29 pm
Posted In: Uncategorized


Lithium-ion batteries have served us well, powering much of the modern world. However, today’s tech — everything from drones and EVs to the wretched Tesla cyber truck — demands denser batteries that charge faster and take you further. This push is driving scientists to conjure up new battery chemistries or refine old ones. Naturally, it is also spawning a new generation of startups looking to scale the next, best battery. One of those is Molyon.  Molyon recently spun out from 15 years of research at the University of Cambridge to commercialise a lithium-sulfur battery that it claims delivers twice the…

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Air taxi startup Vertical Aerospace extends runway with $50mn lifeline

Nov26
by on November 26, 2024 at 10:17 am
Posted In: Insider


Vertical Aerospace has been thrown a crucial lifeline, staving off potential bankruptcy at the cash-strapped air taxi startup.  The UK-based company — which makes electric vertical take-off and landing (eVTOL) aircraft — secured the fresh funds from its largest creditor, American debt investor Mudrick Capital. The agreement, announced Monday, includes a $50mn cash injection and a substantial debt-to-equity swap. Mudrick will invest $25mn upfront and guarantee another $25mn in future funding, offset by contributions from third-party investors.  Mudrick will also convert half of its $130mn in outstanding loans into equity at $2.75 per share, taking its ownership stake in Vertical…

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Swiss startup turning rainy days into refunds launches first product

Nov25
by on November 25, 2024 at 10:56 pm
Posted In: Uncategorized


Zurich-based startup Poncho has officially launched its weather insurance platform — and bagged some fresh funding to boot.   Founded in 2023, the company aims to transform how the travel and hospitality industries handle unpredictable weather.  Poncho’s tech integrates with booking systems, allowing customers to opt for weather protection at checkout. If bad weather, such as heavy rain or wind, occurs during their scheduled event or trip, a refund is processed automatically. You don’t need to file a claim. Maybe torrential rains turn your Alpine ski trip to slush or maybe you’ve splurged on a Mediterranean yacht adventure only to have…

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UK hospitality startup Lighthouse enters unicorn club with $370M raise

Nov21
by on November 21, 2024 at 9:42 pm
Posted In: Insider


London-based startup Lighthouse just raised a hefty $370mn from American investment giant KKR at a valuation of over $1bn, making it Europe’s latest unicorn tech company. The funding will supercharge the company’s ambitions to shake up the $15bn travel tech market. What’s on the to-do list? Refining its AI tools, expanding globally, and snapping up competitors through mergers and acquisitions (it has already made four). Lighthouse’s platform crunches over 400 terabytes of travel data every day, using AI to turn that ocean of info into bite-sized insights that help hotels make better business decisions. It includes data like how many…

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Candela brings electric flying ferry to US shores after $40M raise

Nov21
by on November 21, 2024 at 3:00 pm
Posted In: Uncategorized


Candela is flying high — and across the Atlantic.  The Swedish startup has secured $14mn, marking the close of its Series C round at a cosy $40mn. This puts its total funding at just shy of $90mn.  Candela has also sold its first P-12 ferry in the US, amid burgeoning demand for what is the world’s fastest and longest-range electric passenger vessel.  FlyTahoe, the company that will operate the service, will use the P-12 to shuttle tourists and locals across Lake Tahoe. This massive freshwater lake straddles the border of California and Nevada and is best known for its clear…

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