Temasek-Backed CuspAI Set to Boost Value Above $1 Billion

CuspAI, a British startup that aims to use artificial intelligence for discovering new materials, is in discussions to raise at least $200 million in new funding, according to people familiar with the matter.

No term sheet has been signed as yet, but any round would take the startup’s valuation well above $1 billion, one of the people said, asking not to be identified as the information isn’t public.