CuspAI, a Cambridge-based startup, has announced securing $30 million in funding to develop a groundbreaking Gen-AI-driven search engine for new materials.
The funding round was led by Hoxton Ventures, with significant involvement from Basis Set Ventures as well as Lightspeed Venture Partners. This financial boost will accelerate CuspAI's mission to revolutionize the material design process.
CuspAI's Unique Approach to Material Design
Unlike the traditional approach of designing materials and then using computer simulations to evaluate their properties, CuspAI takes a different approach.
The company leverages generative AI technology to design materials based on desired properties. Co-founder and CEO Chad Edwards explains, "If you can put properties in and get materials and molecules out, then why can't you put properties in and get materials and molecules?"
This novel approach challenges the existing players in the industry, such as Schrodinger and Dassault Systemes, who provide software tools for computational chemistry and material simulations.
Core Members of CuspAI
CuspAI benefits from the expertise of its co-founders, Chad Edwards and Max Welling. Chad Edwards is a chemist with a background in deep-tech commercialization at Google and BASF. He also has experience in the field of quantum computing.
Max Welling, on the other hand, is a renowned pioneer in AI, having previously worked as a Distinguished Scientist and VP at Microsoft Research and Qualcomm. He is also a professor at the University of Amsterdam.
Additionally, CuspAI has the guidance of Geoffrey Hinton, known as the "Godfather of AI," who serves as a board adviser.
Applications and Future Prospects of CuspAI
CuspAI's Gen-AI-driven search engine for new materials holds tremendous potential for various applications.
One promising area of interest is carbon capture and storage. CuspAI aims to design molecular sponges that selectively absorb carbon dioxide from the air.
“We’re looking at the design of molecular sponges that selectively absorb carbon dioxide from the air,” Edwards said. “When you heat them up, they release carbon dioxide which you can pipe it off and make use of, or bury it underground, whatever you want to do.”
CuspAI has also entered a partnership with Meta on an open science project focused on discovering new materials to address climate change. By collaborating with Meta's Fundamental AI Research (FAIR) team, CuspAI aims to accelerate the discovery of novel materials using AI.
Yann Le Cun, VP, and Chief AI Scientist at Meta, expresses his optimism about the collaboration, stating that CuspAI's team is looking forward to applying AI-based materials discovery to the urgent problem of carbon capture.
In the funding round, CuspAI attracted investments from a diverse group of investors, including LocalGlobe, Northzone, Touring Capital, Giant Ventures, FJ Labs, Tiferes Ventures, and Zero Prime Ventures.
The participation of prominent angel investors, such as Mehdi Ghissassi and Dorothy Chou from Deepmind, further validates the potential of CuspAI's Gen-AI-driven search engine for new materials.