- CuspAI raised €393.2 million ($450 million) in a Series B funding round, achieving a valuation of €2.2 billion ($2.6 billion).
- The funding round was led by Kleiner Perkins and NEA, with significant participation from Jeff Bezos’ Bezos Expeditions.
- CuspAI launched the AI Materials Foundry, a global network aimed at accelerating the design of new materials.
- More than 45 organizations have joined as founding members of the AI Materials Foundry, including NVIDIA, Meta, and Samsung.
- Chad Edwards, CEO and co-Founder of CuspAI, stated that the collaboration aims to end the materials bottleneck constraining progress.
- CuspAI's platform acts like an AI search engine for materials, enabling customers to specify the exact properties they need and generating new, synthesisable candidates up to 10x faster than traditional discovery methods.
- CuspAI has raised over $650 million from various investors, including Kleiner Perkins, NEA, and Jeff Bezos.
- The AI Materials Foundry aims to address challenges in industries such as semiconductors, clean energy, and advanced manufacturing by focusing on material discovery.
CuspAI has successfully raised €393.2 million ($450 million) in a Series B funding round, achieving a valuation of €2.2 billion ($2.6 billion). The funding was led by Kleiner Perkins and NEA, with significant participation from Jeff Bezos’ Bezos Expeditions.12
The company has launched the AI Materials Foundry, a global initiative designed to accelerate the discovery of new materials. This foundry is supported by over 45 organizations, including major players like NVIDIA, Meta, and Samsung, aiming to tackle the materials bottleneck that hinders technological advancements in sectors such as semiconductors and clean energy.348
Josh Coyne, Partner at Kleiner Perkins, emphasized the importance of materials in technological leaps, stating, “Most big leaps in technology come down to a material... CuspAI built a search engine that changes that.” The company’s proprietary platform, MIRA, acts as an AI “search engine” for materials, generating new candidates up to 10x faster than traditional methods.6
Dr. Chad Edwards, CEO and co-founder, noted, “If we don’t make progress fast, the next 50 years of industrial progress will be constrained by a single challenge: the world needs materials that don’t yet exist.” The collaboration aims to combine AI-driven discovery with autonomous synthesis capabilities, addressing critical challenges in material science.5
CuspAI has raised over $650 million from various investors, including Temasek and Hyundai Motor Group, and aims to redefine the future of materials discovery through innovative AI solutions.7
“The Series B round was led by Kleiner Perkins and NEA, with participation from Jeff Bezos' Bezos Expeditions, valuing the company at $2.6B. Over 45 organizations including NVIDIA, Meta, and Samsung have joined the AI Materials Foundry, which is orchestrated by CuspAI's MIRA platform using the largest curated experimental materials dataset.”
Business Weekly
