PE-VC Fund Investments
Lightspeed, Peak XV invest in semiconductor-focused AI co. Discovered Materials’ $9-M seed round
San Francisco-based Discovered Materials has raised USD 9 million in a seed funding round led by Lightspeed India Partners. The round saw participation from Y Combinator, Peak XV Partners, and angel investors, including Paul Graham, Gokul Rajaram, and Thariq Shihipar.Founded by IIT-Madras alumni Advaith Sridhar and Akash Ramdas, the firm builds AI agents to discover new materials for semiconductor chips. The company has released hundreds of materials identified through its AI systems and launched Material Discovery Bench, a benchmark developed to test AI agents on real-world semiconductor material challenges.The company plans to use the new funds to expand its team and laboratory, as well as to scale its AI research agents.
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