Molendotech was spun out from Plymouth half a year ago and has now secured a three-tranche commitment of $700,000 from investors.
Molendotech, a UK-based water testing technology spinout from University of Plymouth, secured a three-tranche commitment of £500,000 ($700,000) yesterday in an initial funding round backed by undisclosed investors.
The spinout is developing a point-of-use test to determine how much faecal bacteria is present in water. The test is expected to take 15 minutes, compared with the hours or days it takes to yield results from conventional alternatives.
Molendotech’s assay, which has a US patent for use in recreational waters, relies…
