London-based startup CuspAI is in talks to raise a $100m funding round, according to reports.
Founded in 2024, CuspAI previously raised a $30m seed round, backed by a host of well-known VCs from Europe and the US, including Hoxton Ventures, Lightspeed and Northzone.
The company's AI-powered platform has been described as a search engine for materials. Users can input the properties they want materials to have, and it will generate the chemical composition needed to achieve it.
On Monday, Bloomberg reported the company was in talks to raise a fresh funding round of $100m, citing people familiar with the matter. Sifted approached CuspAI for comment.
While CuspAI’s tech could theoretically help produce any materials, cofounder Dr Chad Edwards previously told Sifted the company had focused on climate tech applications, creating materials that could help capture carbon emissions.
"It’s where we believe society should be focusing right now," Edwards said.
The company recently announced a partnership with a Finnish chemicals company, Kemira Oyj, on a project removing "forever chemicals" from water.
