A supplies science start-up which goals to eradicate ‘perpetually chemical substances’ which might be dangerous to people, is on the point of a significant new funding injection lower than 4 months after securing backing from a few of the world’s main traders.
Metropolis sources mentioned that Temasek Holdings, the Singaporean state fund, and NEA, a significant US-based enterprise capital agency, had been anticipated to commit further cash to the Cambridge-based firm.
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CuspAI has additionally drawn funding from the likes of NVentures, Nvidia’s enterprise arm, Samsung, Hyundai Motor Group, Large Ventures, LocalGlobe and Northzone.
One insider mentioned the brand new funding put CuspAI firmly on monitor to achieve a ‘unicorn’ valuation of no less than $1bn in its subsequent funding spherical, which is prone to happen as early as subsequent yr.
The corporate was based in 2024 by former chemist Dr Chad Edwards and Professor Max Welling, an AI specialist.
It has developed what it describes as an AI “search engine” for the fabric world, enabling prospects to specify the precise properties they want after which producing new, synthesizable candidates as much as 10 occasions quicker than conventional discovery strategies.
“Next-generation AI compute, clean air and water and sustainable energy – these multi-billion-dollar global challenges share a common barrier: materials,” Dr Edwards mentioned in September.
“In just a year, we’ve gone from concept to partnerships with world leaders in automotive, semiconductors, energy, and climate.”
An individual near CuspAI mentioned the brand new funding represented an extension of its Collection A spherical, whereas the corporate itself declined to remark.
