Funds acquired for startup founded by DeepMind researchers associated with Google
In an exciting development for the tech world, startup Hiverge, founded by former Google DeepMind researchers, has secured £3.7 million in funding. The investment round was led by Flying Fish Ventures, with Google's chief scientist Jeff Dean also participating.
Hiverge is developing an 'algorithm factory' called the Hive. This innovative platform aims to help businesses discover and deploy algorithms that improve operations at scale. The Hive continually adapts algorithms to changing environments, enabling companies to stay agile in the face of rapid business changes.
The Hive uses program synthesis to automatically generate and optimise algorithms for specific business challenges. This approach could help businesses move away from relying on generic solutions and towards tailored algorithms for specific tasks.
The founders of Hiverge have contributed to algorithm discovery at DeepMind, including projects like AlphaTensor, FunSearch, and the early development of AlphaEvolve. The team includes CEO Alhussein Fawzi, a MIT Innovators Under 35 award winner; CTO Bernardino Romera-Paredes, part of the Nobel prize-winning AlphaFold team; and chief science officer Hamza Fawzi, a professor at the University of Cambridge.
Quantinuum, a company focused on quantum research, is already working with Hiverge. Konstantinos Meichanetzidis, head of product development and AI strategy at Quantinuum, expressed excitement about collaborating with Hiverge and using its platform to discover novel quantum algorithms. He sees strong potential for the partnership to accelerate scientific breakthroughs.
The seed funding will be used to expand research, accelerate product development, and bring the technology to market. Businesses interested in joining the early-access waitlist for Hiverge's technology can do so now.
Meanwhile, the North East AI Growth Zone is expected to bring £30 billion in investment and create 5,000 jobs, providing a promising landscape for AI-focused startups like Hiverge.
In another unrelated development, ClearCourse has appointed a new chair. The individual was previously the boss of PPRO and SagePay.
The investment company that funded Hiverge is Octopus Ventures. With this investment, Octopus Ventures continues to support innovative AI startups, demonstrating its commitment to driving technological advancements in the UK.
As algorithms drive the revenue of most businesses today, traditional methods are no longer effective in dealing with challenges of scale and speed. Hiverge's algorithm factory, the Hive, promises to address these challenges, making it an exciting development for businesses looking to stay competitive in the digital age.
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