(Bloomberg) – British startup is in negotiations to raise more than $ 100 million (about $ 550 million in today’s exchange rate) in financing to support its goal of using models to discover new materials, according to people familiar with the subject.
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Founded in 2024, Cuspai uses Generative Ia and Molecular Simulation to build a platform that compares to a highly specialized search engine. Users can describe the properties that would like a new material to have, and the service responds with a chemical composition.
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Cuspai preferred not to comment. People familiar with negotiations asked not to be identified when discussing private information.
CEO of Cuspai, Chad Edwards, said before Bloomberg News who sees opportunities in green hydrogen, synthetic fuels and semiconductor manufacturing. Startup recently has partnered with Kemira Oyj, a Finnish chemical company, starting with a project focused on removing persistent water chemicals.
The company raised US $ 30 million in SEED financing in 2024. Earlier this year, AI “Godfather” and recent Laureado with Nobel, Geoffrey Hinton, joined the Startup Advisory Board.
