Funding round
CuspAI Series A
CuspAI, which works in AI-Driven materials research and development in United States, raised $100M in a Series A round announced on 10 Sep 2025, led by New Enterprise Associates and Temasek, at a $520M post-money valuation. 22 firms took part, 1 of them already investors, with 5 individual investors. It is CuspAI's second venture round on record; the one before was a Seed in Jun 2024.
$100M
Amount raised
$520M
Post-money valuation
$420M pre-money
22
Investors
2 leads
19%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced CuspAI at $520M after the new money. The $100M bought investors about 19% of the company. It came 15 months after CuspAI's Seed. It is 17% of the $580M CuspAI has raised in the venture rounds on record. CuspAI raised again 10 months later: a Series B round of $450M in Jul 2026, at $2.60B post-money.
CuspAI's funding rounds
CuspAI has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
New Enterprise Associates and Temasek led the round with 20 other firms. New Enterprise Associates had backed CuspAI before.
Lead investors
- New Enterprise Associates backs 286 venture-backed companies existing investor
- Temasek backs 195 venture-backed companies new investor
Also in the round
- NVentures new investor
- Samsung Venture Investment backs 126 venture-backed companies new investor
- Hyundai Motor Group new investor
- backs 53 venture-backed companies new investor
- FJ Labs backs 316 venture-backed companies new investor
- backs 51 venture-backed companies new investor
- LocalGlobe new investor
- backs 104 venture-backed companies new investor
- Prosus Ventures new investor
- Tiferes Ventures new investor
- backs 13 venture-backed companies new investor
- ARCH Venture Partners backs 99 venture-backed companies new investor
- backs 118 venture-backed companies new investor
- FTX Ventures new investor
- General Catalyst backs 574 venture-backed companies new investor
- Hoxton Ventures backs 50 venture-backed companies new investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- Lux Capital backs 194 venture-backed companies new investor
- Mubadala backs 42 venture-backed companies new investor
- Y Combinator backs 1,295 venture-backed companies new investor
Individual investors: Durk Kingma, Zoubin Ghahramani, Arash Ferdowsi, Thomas Wolf and Victor Riparbelli.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
8 Series A rounds in Research Institutes within a year either side disclosed an amount; the median was $20M, and this round was 4.9 times the median. The closest in time, other companies' Series A rounds in Research Institutes:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Proxima Fusion Research Institutes | 9 Sep 2025 | $18M | not disclosed | not named |
| Research Institutes | 18 Dec 2025 | $23M | not disclosed | Life Ventures Holding |
| Research Institutes | 19 Mar 2025 | $11M | not disclosed | St1 |
| Research Institutes | 9 Apr 2026 | $30M | $300M | Altos Ventures |
| Research Institutes | 6 Apr 2026 | $11M | not disclosed | Standard Capital |
| Research Institutes | 27 Apr 2026 | undisclosed | not disclosed | not named |
| General Intuition Research Institutes | 25 Jun 2026 | $320M | $2.30B | Khosla Ventures |
| Research Institutes | 3 Dec 2024 | $24M | not disclosed | Lowercarbon Capital and Collaborative Fund |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did CuspAI raise in its Series A round?
CuspAI raised $100M in its Series A round, announced in Sep 2025.
Who led CuspAI's Series A round?
New Enterprise Associates and Temasek led it, with NVentures, Samsung Venture Investment, Hyundai Motor Group, Basis Set and FJ Labs and 15 more.
What was CuspAI's valuation at the Series A round?
$520M post-money ($420M pre-money).
How does it compare with other Series A rounds in Research Institutes?
8 Series A rounds in Research Institutes within a year either side disclosed an amount; the median was $20M, and this round was 4.9 times the median.
Did CuspAI raise again after this round?
Yes: a Series B round in Jul 2026 of $450M at $2.60B post-money.