About Converge
Converge is a company based in London (United Kingdom) founded in 2014. It operates as a AI-as-a-Service, and Product-as-a-Service. Converge has raised $40.8 million across 3 funding rounds from investors including Oil and Gas Climate Initiative, Climate Investment and MassChallenge. The company has 36 employees as of December 31, 2021. Converge offers products and services including ConcreteDNA, Converge Signal, and Mix AI. Converge operates in a competitive market with competitors including Fixposition, JUMO, Soter Technologies, HitSeed and Altered Carbon, among others.
- Headquarter London, United Kingdom
- Employees 36 as on 31 Dec, 2021
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Sectors
TechnologyReal Estate & Construction
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Octagon I/O Ltd
- Date of Incorporation 26 Nov, 2014
- Jurisdiction WORCESTER, ENGLAND
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$40.8 M (USD)
in 3 rounds
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Latest Funding Round
$22 M (USD), Series B
May 21, 2025
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Investors
Oil and Gas Climate Initiative
& 8 more
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Employee Count
36
as on Dec 31, 2021
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Products & Services of Converge
Converge offers a comprehensive portfolio of products and services, including ConcreteDNA, Converge Signal, and Mix AI. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Concrete strength and temperature are monitored in real-time.
Wireless sensor system monitors concrete strength and temperature.
AI predicts carbon-efficient concrete mixes for contractors.
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Funding Insights of Converge
Converge has successfully raised a total of $40.8M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $22 million completed in May 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $22.0M
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First Round
First Round
(22 Oct 2015)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2025 | Amount | Series B - Converge | Valuation | ABN AMRO | |
| May, 2022 | Amount | Series A - Converge | Valuation |
investors |
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| Oct, 2015 | Amount | Grant - Converge | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Converge
Converge has secured backing from 9 investors, including institutional and venture fund investors. Prominent investors backing the company include Oil and Gas Climate Initiative, Climate Investment and MassChallenge. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Early-stage entrepreneurs are accelerated through MassChallenge's program.
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Founded Year | Domain | Location | |
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Move Energy is focused on investments in energy transition.
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Founded Year | Domain | Location | |
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Capital and expertise are provided by PI Impact for impactful ventures.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Converge
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Converge
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Converge Comparisons
Competitors of Converge
Converge operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Fixposition, JUMO, Soter Technologies, HitSeed and Altered Carbon, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Positioning services for autonomous vehicles, drones, and robots are provided.
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| domain | founded_year | HQ Location |
Electronic manufacturing and engineering services are provided by JUMO.
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| domain | founded_year | HQ Location |
Sensor systems for real-time threat detection are manufactured.
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| domain | founded_year | HQ Location |
Local intelligence for connected devices is enabled by end-to-end solutions.
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| domain | founded_year | HQ Location |
Provider of graphene sensors and data platform
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Converge
Frequently Asked Questions about Converge
When was Converge founded?
Converge was founded in 2014 and raised its 1st funding round 1 year after it was founded.
Where is Converge located?
Converge is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Is Converge a funded company?
Converge is a funded company, having raised a total of $40.8M across 3 funding rounds to date. The company's 1st funding round was a Grant of $38.6K, raised on Oct 22, 2015.
How many employees does Converge have?
As of Dec 31, 2021, the latest employee count at Converge is 36.
What does Converge do?
Innovative solutions for the construction industry are provided by Converge, focusing on smart concrete technologies. Real-time monitoring of concrete strength and temperature is enabled through advanced sensors and software like ConcreteDNA. Predictive AI tools for carbon-efficient mix selection are offered alongside precast logistics optimization. The construction sector is targeted, aiming to enhance efficiency, safety, and sustainability. Data management solutions are also automated to reduce waste and errors on construction sites.
Who are the top competitors of Converge?
Converge's top competitors include Fixposition, JUMO and MintT.
What products or services does Converge offer?
Converge offers ConcreteDNA, Converge Signal, and Mix AI.
Who are Converge's investors?
Converge has 9 investors. Key investors include Oil and Gas Climate Initiative, Climate Investment, MassChallenge, ABN AMRO, and Move Energy.
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