Read the pitch deck these ex-DeepMind scientists used to raise $5 million for an AI 'algorithm factory'

A startup initiated by former scientists from Google DeepMind has successfully secured $5 million in funding. Based in Cambridge, UK, Hiverge aims to enhance coding through AI by automating the design of algorithms, striving to achieve results that surpass the capabilities of human engineers. Founded by Alhussein Fawzi and Bernardino Romera-Paredes, both of whom played vital roles in the development of Google's coding agent, AlphaEvolve, alongside Hamza Fawzi, a professor at the University of Cambridge, Hiverge is poised to make significant strides in the tech industry. "The algorithms utilized by companies are what truly sets them apart," stated Alhussein Fawzi, CEO of Hiverge, in an interview with Business Insider. "At Hiverge, we are focused on crafting intelligent algorithms that transcend the limitations of current models — autonomously." Engineers can enhance their coding efforts using Hiverge's platform, known as "The Hive," which the company refers to as an "algorithm factory." This platform employs program synthesis, allowing AI to generate algorithms tailored to specific functions without direct instructions on how to create them. Fawzi illustrated this concept by explaining how the technology can be directed to reduce training times for AI models by refining existing algorithms. Additionally, it can be applied to other areas, such as optimizing runtime for supply chain software. Unlike traditional coding methods where users can simply prompt AI to create applications, Hiverge’s focus is on assisting engineers in refining backend code. Fawzi emphasized that the company is working with concrete pieces of code that are "not just based on vibes." Although established in late 2024, Hiverge has recently come into the spotlight after emerging from stealth mode. The startup is currently experimenting with its business model through various proof of concepts, with plans to likely license its platform to clients. Alhussein Fawzi departed Google DeepMind in August 2024 after a tenure of six and a half years, where he contributed to projects such as AlphaEvolve, an internal agent powered by Gemini that enhances hardware algorithms. The seed funding round was led by Flying Fish Ventures and received support from Ahren Innovation Capital and notable investors like Google's chief scientist, Jeff Dean. Fawzi remarked that the funding process was efficient, taking only "two to three months" from the initial meeting with investors to the finalization of the deal. The startup intends to utilize the new funding to hasten its market entry, bolster product development, and enhance its research capabilities. A glimpse into the pitch deck that helped Hiverge secure its impressive funding is now available for review.