CuspAI, a Cambridge, UK-based AI company building a platform for materials that enhance sustainability, raised $30M in Seed funding.
The round was led by Hoxton Ventures, with participation from Basis Set Ventures, Lightspeed Venture Partners, LocalGlobe, Northzone, Touring Capital, Giant Ventures, FJ Labs, Tiferes Ventures, Zero Prime Ventures, Mehdi Ghissassi, and Dorothy Chou.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Dr. Chad Edwards, CuspAI leverages generative AI, deep learning, and molecular simulation to streamline the material design process. Their platform functions like a search engine for materials, allowing users to request specific properties for new materials on demand. This enables the rapid generation and evaluation of a vast number of novel structures, leading to the discovery of materials with precise functionalities.
CuspAI has partnered with Meta with a view to furthering its open science contributions focused on the discovery of new materials to address climate change.
The company has been founded by Professor Max Welling, a pioneer in AI and former Distinguished Scientist and VP at Microsoft Research and Qualcomm, and Professor at the University of Amsterdam. Co-founding the company is Dr. Chad Edwards, a chemist who has spent his career in deep-tech commercialisation including at Google and BASF and most recently quantum computing leader, Quantinuum.
FinSMEs
18/06/2024