ConveGenius Raises $7 Million Funding to Expand Edtech Generative AI Capabilities
ConveGenius raised $7 million funding to advance generative AI capabilities and expand into international markets.
India’s AI-based edtech company ConveGenius today announced that it has raised $7 million as part of a growth financing.
The round was led by UBS Optimus Foundation, venture capital firm Mount Judi Ventures, and saw participation from other existing investors including Michael & Susan Dell Foundation (MSDF), Bace Capital, Heritas Capital, and Gray Matters Capital.
According to the company, the funding will help in advancing the generative AI capabilities of its conversational AI platform SwiftChat and expanding into international markets.
“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. The capital raised will empower us to export another Indian technology to global markets,” said Jairaj Bhattacharya, co-founder and managing director of ConveGenius.
Founded in 2013, by Jairaj Bhattacharya and Shashank Pandey, the edtech startup uses AI-based chatbots and adaptive learning platforms to enhance students’ learning.
Providing Personalized Adaptive Learning in Indian Schools
It currently operates three business verticals including SwiftChat’s conversational AI bot store, with 143 million registered user profiles and a presence in over 5,77,000 schools in India. Meanwhile, Swift School’s personalized adaptive learning platform has been implemented in more than 25,000 schools across 16 states in India.
Additionally, Swift Insights’ large-scale assessments and data intelligence platform offers measuring learning outcomes for 7 million students across 20 states in India and four global countries.
“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 and philanthropy, India and Middle East, UBS.
In 2021, the company secured $5 million in a funding round led by BAce Capital, 3Lines Venture Capital, and Heritas Capital, with participation from MSDF.
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