Funding round
CuspAI Seed
CuspAI, which works in AI-Driven materials research and development in United States, raised $30M in a Seed round announced on 18 Jun 2024, led by Hoxton Ventures. 10 firms took part. It is CuspAI's first venture round on record.
$30M
Amount raised
Not disclosed
Post-money valuation
10
Investors
1 lead
Valuation
What this round says about the price
CuspAI did not disclose a valuation in this round. It is CuspAI's first venture round on record, in the year it was founded (2024). It is 5.2% of the $580M CuspAI has raised in the venture rounds on record. CuspAI raised again 15 months later: a Series A round of $100M in Sep 2025, at $520M post-money.
CuspAI's funding rounds
CuspAI has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
Hoxton Ventures led the round with 9 other firms.
Lead investor
- Hoxton Ventures backs 50 venture-backed companies new investor
Also in the round
- backs 53 venture-backed companies new investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- LocalGlobe new investor
- backs 104 venture-backed companies new investor
- backs 13 venture-backed companies new investor
- backs 51 venture-backed companies new investor
- FJ Labs backs 316 venture-backed companies new investor
- Tiferes Ventures new investor
- backs 14 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Seed rounds in Research Institutes within a year either side disclosed an amount; the median was $9.4M, and this round was 3.2 times the median. The closest in time, other companies' Seed rounds in Research Institutes:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Research Institutes | 8 Aug 2024 | $46M | not disclosed | not named |
| Proxima Fusion Research Institutes | 10 Apr 2024 | $22M | not disclosed | redalpine |
| Research Institutes | 5 Sep 2024 | $9.4M | not disclosed | Breega and Cathay Innovation |
| Research Institutes | 1 Jan 2025 | $30M | not disclosed | not named |
| Research Institutes | 15 Nov 2023 | $4.7M | not disclosed | Morpheus Ventures |
| Research Institutes | 11 Mar 2025 | $5.0M | not disclosed | Jane Street and Amber Group |
| Research Institutes | 29 Aug 2023 | $5.4M | not disclosed | Climentum Capital |
| Research Institutes | 1 May 2025 | $21M | not disclosed | Dell Technologies Capital |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did CuspAI raise in its Seed round?
CuspAI raised $30M in its Seed round, announced in Jun 2024.
Who led CuspAI's Seed round?
Hoxton Ventures led it, with Basis Set, Lightspeed Venture Partners, LocalGlobe, Northzone and Touring Capital and 4 more.
What was CuspAI's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Research Institutes?
9 Seed rounds in Research Institutes within a year either side disclosed an amount; the median was $9.4M, and this round was 3.2 times the median.
Did CuspAI raise again after this round?
Yes: a Series A round in Sep 2025 of $100M at $520M post-money.