A Cambridge-based materials science company founded just over a year ago is on the verge of becoming Britain's latest technology 'unicorn'. CuspAI, which aims to eradicate harmful 'forever chemicals', is nearing a significant new funding round that could push its valuation to at least $1 billion.
Major Investors Back Rapid Growth
Sky News has learned that CuspAI is close to securing tens of millions of pounds in fresh investment. This comes less than four months after the company announced a $100 million fundraising in September 2025. The new capital injection is expected to come from a syndicate of existing shareholders.
Key investors set to commit additional funds include Temasek Holdings, the Singaporean state investment fund, and NEA, a major US venture capital firm. This continued backing from high-profile investors underscores the strong confidence in CuspAI's technology and mission.
The AI-Powered Search Engine for Materials
The start-up, founded in 2024 by former chemist Dr Chad Edwards and AI specialist Professor Max Welling, has developed a unique AI platform. It functions as a 'search engine' for the material world, allowing customers to specify desired properties. The system then generates new, synthesizable material candidates.
The company claims its AI-driven process is up to ten times faster than traditional material discovery methods. This speed is crucial for tackling global challenges in clean air, water, sustainable energy, and next-generation computing, all of which are hindered by material limitations.
Path to a Billion-Dollar Valuation
According to an insider, this latest funding round firmly sets CuspAI on track to achieve a 'unicorn' status—a valuation of $1 billion or more. Its next major funding round is anticipated as early as 2026.
Beyond Temasek and NEA, CuspAI's investor roster is impressive, featuring:
- NVentures: Nvidia's venture capital arm.
- Samsung and Hyundai Motor Group.
- Venture firms Giant Ventures, LocalGlobe, and Northzone.
Dr Edwards highlighted the company's rapid progress in September, stating, "In just a year, we've gone from concept to partnerships with world leaders in automotive, semiconductors, energy, and climate." A source described the new funding as an extension of its Series A round. The company itself has declined to comment on the latest financial developments.
