Artificial intelligence is moving quickly into drug discovery as pharmaceutical and biotech companies look for ways to cut years off R&D timelines and increase the chances of success amid rising costs. More than 200 startups are now competing to weave AI directly into research workflows, attracting growing interest from investors. Converge Bio is the latest company to ride that shift, securing new capital as competition in the AI-driven drug discovery space heats up.
The Boston- and Tel Aviv-based startup, which helps pharma and biotech companies develop drugs faster using generative AI trained on molecular data, has raised a $25 million oversubscribed Series A round, led by Bessemer Venture Partners. TLV Partners, Saras Capital, and Vintage Investment Partners also joined the round, along with additional backing from unidentified executives at Meta, OpenAI, and Wiz.
In practice, Converge trains generative models on DNA, RNA, and protein sequences, then plugs them into pharma and biotech workflows to speed up drug development.
The new funding comes about a year and a half after the company raised a $5.5 million seed round in 2024.