Converge Bio Raises $5.5 Million in Seed Round
Converge Bio, a Tel Aviv, Israel-based generative AI platform focused on accelerating drug discovery and development, has raised $5.5 million in seed funding.
Converge Bio, a Tel Aviv, Israel-based generative AI platform focused on accelerating drug discovery and development, has raised $5.5 million in seed funding.
Investors
The round was led by TLV Partners, an Israeli VC firm that invests in early-stage startups and partners with innovative entrepreneurs to build category-defining companies. Founded in 2015, the firm prefers to invest in firms based in Israel, particularly those in AI, cloud tech, data, cybersecurity, dev tools, e-commerce, fintech, health, property tech, and the quantum sector.
Converge Bio Use of Funds
The company will use the funding to advance its generative AI platform.
About Converge Bio
Founded in 2024, Converge Bio offers a variety of generative AI-based solutions, such as engineering antibodies for improved specificity and reduced side effects, identifying novel drug targets, and designing mRNA vaccines optimized to elicit strong immune responses. The platform utilizes large language models (LLMs) trained on biological and chemical data to help biotech and pharmaceutical companies develop drugs more efficiently. The company has partnered with major players like Teva, Compugen, and BiomX.
Funding Details
Company: Converge Bio Ltd.
Raised: $5.5M
Round: Seed Round
Funding Date: November 2024
Lead Investor: TLV Partners
Additional Investors:
Company Website: https://converge-bio.com/
Software Category: Drug Discovery and Development
