Deep Tech AI and Quantum Mechanic Company Aims to Amplify Renewable Energy Generation and Storage
In a significant development in the field of deep tech, Materials Nexus, a pioneering company that utilizes AI and quantum mechanics to discover new materials, has announced the close of a £2 million seed round led by Ada Ventures. The funding round also saw participation from National Security specialists MD One Ventures, the University of Cambridge, as well as angel investors Andrew MacKay and Jasmin Thomas.
Company Background and Mission
Materials Nexus was founded in 2020 with the aim of amplifying net-zero technologies, including renewable energy generation and storage. The company’s mission is to provide higher performance and sustainability at lower costs, making it an attractive solution for businesses looking to reduce their carbon footprint.
The company’s CEO and co-founder, Jonathan Bean, a theoretical physicist from the University of Cambridge, has spent the past two years working on an AI model that reduces the need for physical tests to discover new materials. This innovative approach has allowed Materials Nexus to build its own datasets and algorithms, accelerating the discovery time and enabling products to be pushed to market faster.
AI-Driven Material Discovery
Materials Nexus works with businesses of all sizes to discover materials that can later be patented. The company’s AI-driven material discovery process allows it to identify new materials that are more efficient, sustainable, and cost-effective than existing options. By leveraging the power of AI, Materials Nexus is able to reduce the time and cost associated with traditional material discovery methods.
Funding and Future Plans
The £2 million seed round will be used by Materials Nexus to scale its commercial and scientific operations. The company plans to use the funding to further develop its AI technology and build a facility to produce materials that can be sold to large companies, such as equipment manufacturers.
"We’re thrilled to have secured this significant investment from Ada Ventures," said Jonathan Bean, CEO and co-founder of Materials Nexus. "This funding will enable us to take our technology to the next level and make a real impact on the fight against climate change."
Diversity in Tech: A Rare Success Story
Materials Nexus’s success is also noteworthy for its founder’s background. Jonathan Bean is one of the few Black founders who have been able to raise money in the UK, highlighting the challenges faced by underrepresented groups in tech.
"We’re proud to be part of a rare club in the UK," said Bean. "As a company, we believe that diversity is essential for achieving true environmental reform."
Quote from Ada Ventures
Matt Penneycard, co-founding partner at Ada Ventures, praised Materials Nexus’s innovative approach and potential to play a significant role in the fight against climate change.
"Jonathan is a remarkable technical founder and company leader," said Penneycard. "He’s a needle in the haystack that we VCs spend years searching for. Our strong bet is that Materials Nexus has the potential to play a very significant role in our fight against climate change."
A Future in the US
While Materials Nexus is currently based in the UK, the company plans to set up operations in the US in the future.
"We’re excited about the prospect of expanding into the US market," said Bean. "We believe that our technology has the potential to make a real difference in the fight against climate change, and we’re committed to working with businesses and governments on both sides of the Atlantic."
Conclusion
Materials Nexus’s £2 million seed round is a significant milestone for the company and highlights the growing importance of deep tech companies in the fight against climate change. With its innovative AI-driven material discovery process and commitment to diversity, Materials Nexus is poised to make a real impact in the years to come.
As the world grapples with the challenges of climate change, companies like Materials Nexus offer a beacon of hope for a more sustainable future. By leveraging the power of AI and quantum mechanics, we can accelerate the development of net-zero technologies and create a better world for generations to come.
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