Noida-based edtech startup ConveGenius recently raised $7 million in a growth financing round led by UBS Optimus Foundation and Mount Judi Ventures.
The round also participation from existing investors like the Michael & Susan Dell Foundation (MSDF), BAce Capital, Heritas Capital, and Gray Matters Capital.
According to the startup, the funding is part of its larger initiative to enhance the generative AI capabilities of its platform, SwiftChat, and to expand into international markets.
What does ConveGenius do?
Founded in 2013 by Jairaj Bhattacharya and Shashank Pandey, ConveGenius has three verticals, SwiftChat - a conversational AI bot store; Swift School - a personalised adaptive learning platform for schools; and Swift Insights - a large-scale assessments and data intelligence platform.
Jairaj Bhattacharya, Cofounder & Managing Director, ConveGenius, said, “This funding round marks a crucial step in ConveGenius’ journey. Our team remains steadfast in the pursuit of empowering every learner, starting with India and fostering data-driven governance for transformative change in education.
Bhattacharya said the capital raised will empower the startup to export another Indian technology to global markets.
What is SwiftChat, Swigy School, and Swift Insights?
SwiftChat is a conversational AI platform that aims to democratize knowledge and information access by enabling the creation, deployment, and management of omnichannel bots.
The startup said that its conversational AI bot store reached 143 million registered user profiles and is being adopted in over 577,000 schools in India. It plans to extend SwiftChat’s reach to 200 million users.
Besides SwiftChat, The startup claims that its personalized adaptive learning platform 'Swift School' is implemented in more than 25,000 schools across 16 states in India, benefiting over 4 million students.
Additionally, Swift Insights’ assessments and data intelligence platform have been used for measuring learning outcomes for 7 million students across 20 states in India and four other countries, it said.
Prior to this round, ConveGenius had raised a total of $9.09 million in over eight rounds. In 2021, it secured $5 million in a funding round led by investors, including BAce Capital, Heritas Capital, and 3Lines Venture Capital, with participation from MSDF.
“We are dedicated to driving improved learning outcomes for children by enhancing the quality of education, not just in India but worldwide. That’s why we are delighted to partner with ConveGenius, as their SwiftChat generative AI platform provides the personalised learning content and teacher training support needed in schools,” said Dhun Davar, Head of Social Finance, UBS Optimus Foundation and Head of Social Impact & Philanthropy, India and Middle East, UBS.
“ConveGenius has implemented at a massive scale educational solutions serving students, teachers, institutions, and Government administrators. It is successfully transforming public education systems, one of the toughest frontiers in the K-12 space,” Ali Shariff, Partner at Mount Judi Ventures, noted.
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