CuspAI nears $200m raise to reach $1bn valuation for materials discovery platform.

CuspAI is reportedly in discussions to secure at least $200m in new financing, a transaction that could push its valuation past $1bn. The British artificial intelligence startup focuses on accelerating the discovery of advanced materials such as sustainable battery chemistries and semiconductors through proprietary generative models.

The company previously secured more than $100m in a Series A round co-led by NEA and Temasek in September 2025, which valued the business at approximately $520m. Subsequent commercial agreements further lifted its valuation toward $800m ahead of this latest capital raise.

The firm intends to direct the proceeds from the prospective round toward expanding its platform, recruiting additional personnel, and scaling operations across the United States and Asia.