Summary:
CuspAI raised $100 million in Series A funding led by NEA and Temasek, valuing the company at $520 million.
The advisory board includes AI godfathers Geoffrey Hinton and Yann LeCun, enhancing its credibility in AI-driven chemistry.
Developed OpenDAC, the world's largest dataset for carbon capture materials, with over 100 million datapoints.
Partnerships with Hyundai for sustainable energy and Kemira for water filtration demonstrate diverse applications.
AI models accelerate material discovery from 10 years to 6 months, aiming for further reductions to 1-2 months.
CuspAI Secures $100 Million in Series A Funding to Advance AI in Chemistry
CuspAI, a startup developing AI models for chemistry, has raised $100 million in a Series A funding round. The investment was led by New Enterprise Associates (NEA) and Temasek, with participation from Nvidia's NVentures, Samsung Ventures, Hyundai Motor Group, and other venture firms and angel investors. This funding values the company at approximately $520 million.
High-Profile Backers and Advisory Board
The startup boasts an impressive advisory board, including AI luminaries like Geoffrey Hinton and Yann LeCun, both Turing Award winners. New additions include Lord John Browne, former BP CEO, and Martin van den Brink, former president and CTO of ASML. This board supports CuspAI's mission to use AI for discovering new materials, such as more efficient batteries, sustainable plastics alternatives, and advanced semiconductors.
Innovative AI Technology and Applications
CuspAI is building AI foundation models that function like a "search engine for the material world," making predictions about chemistry. Their first focus was on materials for direct air capture of carbon dioxide, leading to the creation of OpenDAC, the largest dataset of its kind with over 100 million datapoints, developed in partnership with Meta and Georgia Tech.
The company is expanding into other areas, including partnerships with Kemira to filter PFAS from water and with Hyundai for sustainable energy applications like batteries and hydrogen fuel cells. They are also exploring opportunities in the semiconductor industry.
Accelerating Material Discovery
According to CEO Chad Edwards, CuspAI's AI models can reduce the time to develop novel materials from a decade to just six months, with goals to shorten this to one to two months in the near future. The models are "synthesis-aware," ensuring that generated materials are practical for manufacturing.
Growth and Competitive Landscape
The funding will be used to expand CuspAI's team, currently around 30 employees, and open new offices, particularly in Asia. The startup faces growing competition, with recent large funding rounds for rivals like Lila Sciences and Periodic Labs, highlighting the rapid heating up of the AI materials science sector.
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