British startup CuspAI is in talks to raise more than $100 million in funding to support its goal of using artificial intelligence models to discover new materials, according to people familiar with the matter.
Venture capital firm NEA is set to co-lead the funding round, said the people, who spoke on condition of anonymity as the information is not public.
Founded in 2024, CuspAI uses generative AI and molecular simulation to build a platform that it likens to a highly specialized search engine. Users can describe properties they’d like a new material to have and the service responds with a chemical makeup.
CuspAI and NEA declined to comment.
CuspAI Chief Executive Officer Chad Edwards previously told Bloomberg News that he sees opportunity in green hydrogen, synthetic fuels and semiconductor manufacturing. The startup recently partnered with Kemira Oyj, a Finnish chemicals company, starting with a project focused on removing forever chemicals from water.
The company raised $30 million in seed funding in 2024. Earlier this year, AI “godfather” and recent Nobel laureate Geoffrey Hinton joined the startup’s advisory board.
Written by: Yazhou Sun @Bloomberg
The post “CuspAI in Talks to Raise $100 Million to Find New Materials” first appeared on Bloomberg