Convergence, a London, UK-based startup developing an advanced AI agent, has raised $12 million in pre-seed funding.
Investors
The round was led by Balderton Capital, with participation from Salesforce Ventures and Shopify Ventures.
Balderton Capital is a multistage venture firm with over two decades of experience supporting Europe’s founders from Seed to IPO. The firm has both early and growth funds and invests across the technology sector.
Convergence Use of Funds
The company will utilize the funding to develop its technology further and enhance the capabilities of its Proxy agents.
About Convergence
Founded by Marvin Purtorab and Andy Toulis, Convergence focuses on developing advanced AI agents designed to automate various workflows across different tasks. The company’s flagship product, called Proxy, aims to create a more generalized AI assistant that can learn and adapt like a human by utilizing a concept known as Long-term Memory through Large Meta Learning Models (LMLM). Currently, the company is in closed beta with testers.
Funding Details
Company: Convergence Labs Limited
Raised: $12.0M
Round: Pre-Seed
Funding Date: September 2024
Lead Investor: Balderton Capital
Additional Investors: Salesforce Ventures, Shopify Ventures
Company Website: https://convergence.ai/
Software Category: AI Assistant
Source: https://techcrunch.com/2024/09/25/convergence-ai-played-with-agents-for-years-until-raising-12m-to-give-them-long-term-memory/