CuspAI, a Cambridge-based artificial intelligence company founded two years ago, has secured £330m in a Series B funding round led by investors including Amazon founder Jeff Bezos and the UK government’s sovereign AI fund. The investment values the startup at £2.6bn, representing a significant milestone for the early-stage technology firm.
The company has established the AI Materials Foundry, a coalition comprising more than 48 technology firms, industrial companies and research institutions. This initiative is designed to develop software powered by artificial intelligence to identify and develop new materials for semiconductor manufacturers and other sectors. The coalition includes prominent members such as chipmaker Nvidia, social media company Meta Platforms, and automotive manufacturer Hyundai.
CuspAI’s primary objective is to substantially reduce research timelines and decrease reliance on rare metals including iridium and ruthenium in semiconductor supply chains. The company aims to leverage advanced AI models to discover novel materials that could enhance the efficiency of energy networks, improve battery performance, and strengthen semiconductors underlying the AI industry.
The funding will enable CuspAI to expand its international presence, establishing a new office in Singapore while increasing staffing at existing locations in Cambridge, Amsterdam, Berlin, Tokyo, and the United States. The company has attracted senior industry talent, including John Giannandrea, a former executive at Apple and Google, to lead US operations. CuspAI has also secured support from Abhi Talwalkar, a board member at AMD and chair of Lam Research.
This represents the fourth company to receive backing from the UK government’s sovereign AI fund, which targets early-stage British AI firms seeking to scale globally. The fund typically invests between £1m and £10m in companies meeting criteria including having their primary office in the UK and founders who are British nationals.
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