British artificial-intelligence startup CuspAI has raised $450 million in a Series B funding round to expand its AI-powered materials-discovery platform and accelerate the development of new materials for semiconductors, clean energy and advanced manufacturing.
The round, which valued CuspAI at $2.6 billion, was co-led by Kleiner Perkins and New Enterprise Associates. Bezos Expeditions, the investment firm of Amazon founder Jeff Bezos, participated alongside Glade Brook Capital Partners, Lux Capital, AMD Ventures, Tru Arrow Partners, StepStone, Britain’s Sovereign AI Venture Fund, Invest-NL and investor John Doerr.
Existing investors Temasek, Basis Set Ventures, Giant Ventures, Touring Capital, Prosus, Phoenix Court and Northzone also participated. The latest financing follows CuspAI’s Series A round of more than $100 million, completed less than a year ago.
CuspAI plans to use the capital to expand across the United States, Asia-Pacific and Europe. The company is opening an office in Singapore and expanding its teams in the UK, the Netherlands, Germany, Japan and the US.
The startup has also launched the AI Materials Foundry, a collaborative network bringing together computing infrastructure, scientific data, laboratory facilities and materials expertise. The initiative includes more than 45 technology, manufacturing and industrial organisations, including Nvidia, Meta, Samsung, Hyundai Motor Group, Applied Materials, Tokyo Electron and Lam Research.
CuspAI’s platform uses generative AI, molecular simulation and laboratory validation to identify materials with specified physical and chemical properties. The company aims to shorten the conventional materials-development process by digitally evaluating potential candidates before they undergo physical synthesis and testing.
“New materials can unlock performance, sustainability and new solutions to existing intractable problems,” CuspAI said while announcing the financing.
The development has relevance for India’s semiconductor, electric-mobility and clean-energy sectors, where access to specialised materials remains important for building domestic manufacturing capabilities. AI-assisted materials discovery could support work on semiconductor materials, battery chemistries, carbon-capture systems and alternatives to supply-constrained metals. However, CuspAI has not announced an office, investment or dedicated programme in India.
Founded in 2024 by chemist Dr Chad Edwards and machine-learning researcher Professor Max Welling, CuspAI is headquartered in Cambridge, UK. The company combines AI models, scientific data and experimental testing to develop materials for semiconductors, energy storage, carbon capture, clean water and other industrial applications.
