Singapore-based, AI-first company building next-generation perovskite silicon tandem (PST) solar cell technology, Cosmos Innovation, raised USD 19.7 million in total funding. The round took place on October 20, 2023. Xora Innovation, an early-stage, deep-tech investment platform of Temasek, led the financing for the company. Meanwhile, Innovation Endeavors, Two Sigma Ventures; DeepMind CEO Demis Hassabis; noted MIT professor Tomaso Poggio, a founder of computational neuroscience; Richard Socher, leading natural language processing (NLP) researcher, CEO of You.com and managing partner at AIX Ventures; and Western Technology Investments, also joined in the funding.
Purpose of financing for Cosmos Innovation
With the latest financing, Cosmos Innovation seeks to the company’s fundamentally different approach to developing perovskite silicon tandem solar cell technology.
The funding coincides with Cosmos Innovation’s unveiling of Mobius. It is the industry’s pioneering AI recipe optimization platform. Mobius’s demonstration took place across various sectors, such as solar, silicon carbide, advanced data centre chips and advanced packaging.
In addition, Cosmos Innovation plans to develop the world’s first self-learning fab in this space and expects its approach to yield best-in-class performance for perovskite silicon tandem solar cells.
What the company’s official has to add
Vijay Chandrasekhar, CEO and co-founder, Cosmos Innovation, said, “Mainstream silicon solar technology is reaching its technological limits. Our innovative AI process optimization platform enables us to accelerate the once-in-a-lifetime platform shift to perovskite silicon tandem technology in the solar industry. Our use of AI-driven experimental design will enable Cosmos Innovation to arrive at the optimal solution with far fewer experiments. This approach will enable us to build highly efficient, cost-effective solar cells in a much shorter time, which is key to meeting the ambitious net zero targets being set around the world.”
In addition, Joel Li, CTO and Co-Founder, Cosmos Innovation, said, “Cosmos Innovation has proven AI technology to tackle the combinatorial explosion problem that semiconductor and solar cell process optimization faces. Our proprietary AI system, Mobius, has shown it can accelerate process optimization by up to 10x. It does this by intelligently proposing the next set of materials and process conditions to run. We believe that Mobius will help us solve the last-mile challenges of perovskite silicon tandem solar cells and accelerate its commercialization.”
What the investors have to comment
Phil Inagaki, Managing Director of Xora Innovation, further said, “Cosmos Innovation has assembled some of the world’s leading minds in AI, semiconductor manufacturing and solar to create Mobius – the first AI platform that enables self-learning fabrication of complex semiconductor devices. The application of Mobius to perovskite silicon tandem solar cells promises to deliver more cost-effective, reliable and efficient modules on an accelerated timeline. Cosmos Innovation exemplifies the technical and market expertise emerging from the Singapore R&D ecosystem, and Xora is excited to support this home-grown, deep-tech company that’s poised to transform the global market for sustainable solar energy.”
Besides, Dror Berman, Founding Partner at Innovation Endeavors, commented, “AI is transforming the way science gets done. Cosmos Innovation is at the forefront of AI innovation for the solar and semiconductor industries. It drives a radically different approach to process recipe development. Cosmos Innovation is at the confluence of the company’s proven AI capabilities and the massive trillion-dollar opportunity emerging from silicon solar technology reaching its fundamental limits.”
In addition, Colin Beirne, Partner, Two Sigma Ventures, added, “The beauty of AI is its ability to positively surprise us – to reach for solutions that elude our human brains because of our biology and conditioning. AI thrives in situations of complexity and large parameter spaces – like semiconductor development. Cosmos Innovation is harnessing these capabilities and building a tremendous team of experts. The goal is to reach new heights in perovskite silicon tandem solar cell efficiency. We’re incredibly excited to support them on this valuable mission.”
About the company
Vijay Chandrasekhar and Joel Li launched the company in 2022. Cosmos Innovation redefines the historically manual, trial-and-error-based development process for semiconductors. It leverages AI to optimize and speed up the experimental design, test and iterate loop.
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