CuspAI, an AI chemistry startup, secured $100 million in Series A funding. New Enterprise Associates and Singapore sovereign wealth fund Temasek led the round. This investment values the company at $520 million.
NVentures, Samsung, and Hyundai Motor Group also participated. CuspAI develops AI models for material science. The company focuses on discovering new physical materials.
Advancing Material Discovery with AI
CuspAI's work includes creating efficient batteries, advanced semiconductors, and sustainable plastic alternatives. Hyundai Motor Group is partnering with CuspAI on sustainable energy applications. Lord John Browne and Martin van den Brink joined the advisory board. AI pioneers Geoffrey Hinton and Yann LeCun are already advisors.
The company builds AI foundation models for chemistry. Its technology functions as a "search engine for the material world." Initial efforts target direct air capture of carbon dioxide. CuspAI is expanding into other materials, partnering with Kimera to filter PFAS from water. The company plans to grow its team and open new offices, with Asia as a focus.
CuspAI's models can develop novel materials within six months. This process typically takes a decade. The company aims to reduce this timeframe to one to two months. Competitors like Lila Sciences and Periodic Labs recently raised significant seed rounds.
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