Materials Nexus, a London, UK-based deep tech startup company that processes quantum calculations, raised £2 million in a seed funding round led by Ada Ventures.
High-Tech Gründerfonds, The University of Cambridge, National Security specialists MD One Ventures, as well as new institutional investor Michael Eisenberg at Genuine Capital Ventures, and angel investors Jasmin Thomas, Andrew MacKay, and Hugh Smith, also participated in the round.
The funds will be used to launch its “ground-breaking” AI and quantum mechanics technology, which accelerates the discovery and development of sustainable, cheaper, higher-performing materials.
Materials Nexus aims to develop next-generation materials for daily things that are environmentally friendly.
Materials Nexus founder and CEO Jonathan Bean, commented: “As a society, we rely heavily on advanced materials to build the technologies which are vital for a net-zero world. These include magnetic materials used for clean energy solutions like wind turbines and electric vehicles, and precious metals for producing green hydrogen. Our mission is simple – to discover more sustainable materials which governments and companies can use to build green technologies, in a way that’s commercially viable.”
The startup is dedicated to improving a wide range of net-zero technologies, including renewable energy production, energy storage, and electric mobility, by revamping the advanced materials that support them, resulting in higher efficiency, performance, and sustainability, as well as reduced prices.
Company: Materials Nexus Ltd
Round: Seed Round
Funding Month: July 2023
Lead Investors: Ada Ventures
Additional Investors: High-Tech Gründerfonds, The University of Cambridge, MD One Ventures, Michael Eisenberg, Jasmin Thomas, Andrew MacKay and Hugh Smith
Company Website: https://www.materialsnexus.com/
Software Category: Materials Discovery Platform
About the Company: Founded in 2020 by Jonathan Bean, Materials Nexus is a deep-tech startup on a mission to discover new materials that significantly reduce the environment, economical and social costs of items critical to our lives. It employs artificial intelligence to discover more sustainable, less expensive, and higher-performing alternatives to the advanced materials required to construct the technologies essential for a net-zero society. Using rapid automated processes and advanced quantum calculations, they work with partners to reduce global CO2e emissions and accelerate the discovery of next-gen materials from decades to months.