Edtech company ConveGenius has raised $7 million (about Rs 58 crore) in a Series A round co-led by UBS Optimus Foundation and Mount Judi Ventures. The round also witnessed the participation of its existing investors Michael & Susan Dell Foundation, Bace Capital, Heritas Capital and Gray Matters Capital.
The Noida-based company had previously raised $5 million in October 2021 from Bace Capital, Heritas Capital and 3Lines Venture Capital.
The proceeds will be channelled towards focusing on advanced generative AI capabilities of SwiftChat to 200 million users and expanding into the international market, ConveGenius said in a press release.
Co-founded in 2013 by Jairaj Bhattacharya and Shashank Pandey, ConveGenius partners with state governments, CSRs, NGOs and schools to create sustainable educational impact in the K-12 space across India.
According to ConveGenius, Swift School’s personalised adaptive learning platform has been implemented in more than 25,000 schools across 16 states in India, fostering immersive educational experiences for over 4 million students. Additionally, Swift Insights’ large-scale assessments and data intelligence platform have played a pivotal role in measuring learning outcomes for 7 million students across 20 states in India and four global countries.
ConveGenius’s revenues from operations grew to Rs 23.93 crore during the fiscal year ending March 2023 from Rs 20.72 crore in FY22 and the company generated Rs 1.53 crore profit in FY23 as compared to Rs 3.88 crore loss in the previous fiscal year.
