CuspAI, a Cambridge, UK-based applied AI company specializing in the design of new and more efficient materials, secured $30 million in seed funding.
Investors
The round was led by Hoxton Ventures, with significant participation from Basis Set Ventures and Lightspeed Venture Partners. Other investors include LocalGlobe, Northzone, Touring Capital, Giant Ventures, FJ Labs, Tiferes Ventures, and Zero Prime Ventures, along with prominent angel investors such as Mehdi Ghissassi and Dorothy Chou from Google DeepMind.
Founded in 2013, Hoxton Ventures is a venture capital investment firm based in London, United Kingdom. The firm prefers to invest in technology companies based in the European region. The company leads pre-seed or seed rounds and typically invests between $500k to $5 million.
About CuspAI
Founded by Professor Max Welling and Dr. Chad Edwards, CuspAI developed a search engine to design new and more efficient materials. They leverage generative AI, deep learning, and molecular simulation to streamline the material design process. Their platform functions like a search engine for materials, allowing users to request specific properties for new materials on demand.
Funding Details
Company: CuspAI
Raised: $30.0M
Round: Seed Round
Funding Month: June 2024
Lead Investor: Hoxton Ventures
Additional Investors: Basis Set Ventures, Lightspeed Venture Partners, LocalGlobe, Northzone, Touring Capital, Giant Ventures, FJ Labs, Tiferes Ventures, Zero Prime Ventures, Mehdi Ghissassi, Dorothy Chou
Company Website: https://www.cuspai.com/
Software Category: Search Engine
Source: https://siliconcanals.com/cambridge-based-cuspai-secures-28m/