Discovered Materials, a US-based deep-tech startup founded by Indian entrepreneurs, has raised $9 million (₹85 crore) in a seed funding round led by Lightspeed India Partners. The round also saw participation from Y Combinator, Peak XV Partners, and prominent angel investors including Paul Graham, Gokul Rajaram, and Thariq Shihipar.
Founded in 2024 by Advaith Sridhar and Akash Ramdas, Discovered Materials uses AI agents and physics models to discover new materials for semiconductor chips. The startup aims to address the growing demand for more efficient chips by finding materials that reduce heat generation and improve heat dissipation.
The company recently emerged from Y Combinator and plans to use the funding to expand its team, enhance lab capabilities, and scale its AI research agents. Discovered Materials also released hundreds of new materials discovered by frontier AI models and introduced Material Discovery Bench, the first benchmark for agentic materials discovery on real-world semiconductor chip problems.
Hemant Mohapatra, Partner at Lightspeed India, highlighted the founders’ unique combination of deep materials science expertise and frontier AI engineering, which enables compressing years of materials R&D into days.
This funding reflects growing investor interest in AI-driven deep-tech solutions that can accelerate innovation in critical sectors like semiconductors, especially as AI workloads increase demand for better, cooler, and more efficient chips.
FAQs [Frequently Asked Questions]
Q1: Who led the $9 million seed round in Discovered Materials?
A: Lightspeed India Partners led the seed round, with participation from Y Combinator, Peak XV Partners, and angel investors like Paul Graham and Gokul Rajaram.
Q2: What does Discovered Materials do?
A: The startup uses AI agents and physics models to discover new materials for semiconductor chips, aiming to improve efficiency and reduce heat generation.
Q3: Who founded Discovered Materials?
A: Discovered Materials was founded in 2024 by Advaith Sridhar and Akash Ramdas, and is headquartered in San Francisco, California.