"The funding round, the company's Series A, was led by venture capital firm New Enterprise Associates and Singapore sovereign wealth fund Temasek. Nvidia's venture capital arm NVentures, Samsung, and [hotlink]Hyundai Motor[/hotlink] Group also participated in the financing, along with a number of venture capital firms and angel investors who had previously backed the company.The funding round values CuspAI at $520 million, one source familiar with the deal said."
"As well as investing in CuspAI, Hyundai said it was partnering with the startup on "sustainable energy applications." "With CuspAI as our partner, we will leverage the power of AI to advance our performance and sustainability goals," Keith Noh, vice president head of the ZERO1NE Group at Hyundai Motor Group, said in a statement. "We believe novel materials offer an extraordinary opportunity to accelerate progress towards a better, cleaner, and more efficient future.""
"The company is also announcing that Lord John Browne, the former BP CEO who is now chair of the Francis Crick Institute, and Martin van den Brink, the former president and CTO of ASML, which makes the lithography technology for producing advanced semiconductors, are joining its advisory board.That board already contains two AI "godfathers," Geoffrey Hinton, the Nobel-prize-and-Turing Award-winning deep learning pioneer, and his fellow Turing Award-winner Yann LeCun,"
CuspAI raised $100 million in Series A financing led by New Enterprise Associates and Temasek, with participation from NVentures, Samsung, Hyundai Motor Group, and prior investors. The funding values the company at about $520 million. CuspAI has hired staff from leading AI labs including Google DeepMind and Meta to build AI models for chemistry aimed at discovering new physical materials such as more efficient batteries, advanced semiconductors and superconductors, and sustainable plastic substitutes. Hyundai is partnering on sustainable energy applications to leverage AI for performance and sustainability improvements. New advisory board members include Lord John Browne and Martin van den Brink alongside Geoffrey Hinton and Yann LeCun.
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