A UK-based AI startup, founded last month by former Cohere employees, is already in talks to raise a major pre-seed round amid venture capitalists' continued spending spree in the sector.
Convergence AI, incorporated at the end of April, was founded by ex-Cohere employees Marvin Purtorab and Andy Toulis, who was also a machine learning engineer at Uber.
Its primary aim, per leaked investor documents seen by BI, is to build out automated workforces using AI.
The nascent business has been feted by several leading funds, with the company receiving at least six different term sheets for investment, two London-based sources said.
The startup opted for a funding round led by London-based Balderton Capital, six sources familiar with the deal told Business Insider.
Persons:
Marvin Purtorab, Andy Toulis, Slack
Organizations:
Uber, Business, Balderton, BI, Nvidia, Mistral
Locations:
London, Paris