Gate News message, April 21 — CuspAI, a UK-based AI startup specializing in materials discovery, is in talks to raise at least $200 million in a funding round that could value the company at over $1 billion. No term sheet has been signed yet. The company was previously valued at approximately $800 million following its Series A round last summer, which was led by New Enterprise Associates and Temasek.
Founded in 2024, CuspAI offers a platform for designing materials used in semiconductors, batteries, sustainable energy, and carbon capture applications. The company has already secured commercial contracts worth tens of millions of dollars. Its proprietary MOFGEN model achieves a 49% success rate for generating valid, unique, and novel materials, outperforming competitors including Microsoft (10% success rate) and Meta (16%).
CuspAI’s advisory board includes AI pioneers Geoffrey Hinton and Yann LeCun, as well as Lord John Browne, former CEO of BP, and Martin van den Brink, former president and chief technology officer of ASML, a Dutch chipmaking equipment manufacturer.
The fundraising reflects broader momentum in AI-driven materials science. Rival Periodic Labs raised a $300 million seed round to develop advanced AI models and automated robotic laboratories for testing. The trend is driving venture capital into “neolabs”—startups that combine AI software with physical lab infrastructure. Developing a single new material typically requires a decade and hundreds of millions of dollars; accelerated discovery could reshape supply chains for electric vehicle batteries and semiconductors.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Tencent QClaw Launches Overseas Beta, Offers 40M Daily Tokens and 20K Founding Claw Slots
Tencent QClaw launched its overseas beta on April 21, featuring over 80 improvements from the domestic version. Users can earn daily tokens, with the initial launch available in multiple languages across various countries.
GateNews29m ago
Huawei Launches First AI Glasses in China as Market Grows 322% Globally
Huawei has launched AI glasses in China, featuring an in-house chip and various smart functions. The global AI glasses market saw a significant increase in shipments, with China becoming the second-largest market.
GateNews1h ago
Google Expands Gemini Feature in Chrome Browser to Seven Asia-Pacific Countries
Google announced on April 20 that it will expand Gemini features in Chrome to several Asia-Pacific countries, including Australia and South Korea, enhancing access to its AI capabilities in the region.
GateNews1h ago
Dark Matter Labs Releases and Open-Sources Kimi K2.6 Model
Dark Matter Labs has released the Kimi K2.6 model, boasting enhanced long-context coding and improved autonomous execution abilities. It is now available on multiple platforms for all users.
GateNews1h ago
Claude Desktop Installation Reportedly Writes Backdoor File to Chromium-Based Browsers
The Claude Desktop application by Anthropic installs a backdoor file in Chromium-based browsers without user consent, posing serious security and privacy risks by potentially allowing attackers to control users' browsers.
GateNews2h ago
Amazon adds more for Anthropic with $25 billion: 5GW of computing power, with a $100 billion-plus AWS commitment
Amazon expands its partnership with Anthropic, investing up to $25 billion. Anthropic commits to spending more than $100 billion on AWS within 10 years and receiving 5GW of additional compute capacity. This is the second wave of Anthropic’s compute expansion, with a valuation of $380B. Anthropic’s annualized revenue surpasses $30 billion. Soaring demand has driven its infrastructure expansion, moving forward with compute development in sync with AWS and Google.
ChainNewsAbmedia2h ago
