CuspAI was co-founded by Chad Edwards and Max Welling, a renowned AI pioneer and former Distinguished Scientist and VP at Microsoft Research and Qualcomm. The company, which only launched this year, believes AI-designed materials could have a significant near-term impact on carbon capture and storage. It has partnered with Meta on its open science project to discover new materials to address climate change. Other investors in the round include LocalGlobe, Northzone, Touring Capital, Giant Ventures, FJ Labs, Tiferes Ventures, and Zero Prime Ventures.
Key takeaways:
- Cambridge-based startup CuspAI has raised $30 million in a seed round led by Hoxton Ventures. The company uses generative AI-driven software to design new materials.
- CuspAI's platform functions like a search engine for materials, allowing for the fast evaluation of a vast number of novel structures. The company believes it is entering the 'materials-on-demand' era.
- The company's co-founders include Chad Edwards, a chemist with experience in deep-tech commercialization at Google and BASF, and Max Welling, a renowned pioneer in AI who has held positions at Microsoft Research and Qualcomm.
- CuspAI is focusing on the design of molecular sponges that selectively absorb carbon dioxide from the air, a potential solution for carbon capture and storage. The company has also partnered with Meta on its open science project to discover new materials to address climate change.