Cambridge-based CuspAI has raised a $450 million Series B, led by Kleiner Perkins and NEA, in a deal that values the AI materials startup at $2.6 billion. Bezos Expeditions took a significant stake in the round, alongside new investors including Glade Brook Capital Partners, Lux Capital, AMD Ventures, Tru Arrow Partners, StepStone, Britain’s Sovereign AI Venture Fund, Invest-NL, and John Doerr.
Existing backers Temasek, Basis Set Ventures, Giant Ventures, Touring Capital, Prosus, Phoenix Court, and Northzone also participated. The funding is set to help CuspAI expand more quickly across the US, APAC, and Europe.
Founded by Dr. Chad Edwards, CuspAI describes its platform as a search engine for materials, using AI to help users identify chemical compositions based on desired material properties. The funding announcement came alongside the launch of the AI Materials Foundry coalition, which brings together more than 45 partners across the semiconductor, industrial, and technology sectors.
The raise signals continued investor interest in AI companies targeting industrial and scientific applications, particularly in areas such as semiconductors, energy, and advanced manufacturing, where materials discovery remains a key constraint.
Existing backers Temasek, Basis Set Ventures, Giant Ventures, Touring Capital, Prosus, Phoenix Court, and Northzone also participated. The funding is set to help CuspAI expand more quickly across the US, APAC, and Europe.
Founded by Dr. Chad Edwards, CuspAI describes its platform as a search engine for materials, using AI to help users identify chemical compositions based on desired material properties. The funding announcement came alongside the launch of the AI Materials Foundry coalition, which brings together more than 45 partners across the semiconductor, industrial, and technology sectors.
The raise signals continued investor interest in AI companies targeting industrial and scientific applications, particularly in areas such as semiconductors, energy, and advanced manufacturing, where materials discovery remains a key constraint.