Osmotic energy tech MediSun Energy raised $8.75 M Seed funding from Vynn Capital
With a strategic alliance with Southeast Asian venture capital firm Vynn Capital, MediSun Energy, a Singapore-based business that specializes in cutting-edge osmotic (blue) energy technology, has successfully raised $8.75 million in a seed financing round.
With $3.75 million in equity financing and $5 million in venture debt, the company is now valued at $44 million.
This is one of the major investments from Vynn Capital’s Mobility and Supply Chain fund, which is supported by several Malaysian institutional investors and other regional limited partners, the parties said in a joint statement on Monday.
Several new investors were drawn to the funding round, which was led by Vynn Capital. These included Frank Phuan, TNB Aura, a Singaporean venture capital firm that participated through its Scout Initiative, Ciri Ventures, a climate tech-focused venture capital firm, and MOAJ Holding, a Saudi investment company.
Furthermore, in order to establish a local joint venture, MOAJ Holding Co. has pledged to invest up to $30 million in Medisun’s Saudi Arabia.
The partners made clear that the goal of this collaboration is to strengthen MediSun’s R&D capabilities and hasten its entry into the MENA region. MediSun intends to build two facilities: one for stack production and the other for membrane production.
Dusun Kim, Founder & CEO of MediSun, said, “At MediSun, we are dedicated to making the planet greener and better. Our zero-brine technology not only provides clean and green energy but also contributes to a more sustainable future. This partnership with Vynn Capital is a major milestone that will enable us to scale our operations and bring our innovative solutions to new markets.”
Victor Chua, Founding & Managing Partner of Vynn Capital, added, “MediSun’s solutions are crucial in solving water supply chain and scarcity issues while achieving net-zero carbon goals by reducing energy consumption. Over the medium term, we believe such technology can also be crucial for other industries, such as mobility and industrial
sectors, that require innovation in energy management. This is especially important with the narrative of Malaysia and Southeast Asia playing a larger role in the renewable energy sector.”
Apart from bolstering MediSun’s expansion, Vynn Capital is proactively investigating additional prospects and startups in strategic markets like Singapore, Thailand, and Indonesia. Given the anticipated substantial growth in the water technology market in Southeast Asia, this collaboration places both businesses at the forefront of sustainability and innovation in the area.
