Edtech startup ConveGenius has raised $1.8 million more in its ongoing Series A round led by Searce Inc. along with its announcement of a strategic partnership with it.
The Noida-based company had already raised $7 million in this round co-led by UBS Optimus Foundation and Mount Judi Ventures in January.
The company plans to use the proceeds to complement its interest in providing IP-led consulting services to the public sector and EDU segment across key markets in the US, Europe, APAC, Middle East and India, 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, its new partnership aims to enhance its cloud services and accelerate generative AI development, building on the momentum of the recent development. The company says that it has impacted more than 140 million students in India.
ConveGenius’s revenues from operations grew to Rs 23.93 crore during the fiscal year ending in 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.
It may directly or indirectly compete with other major players in this space like Vedantu, GradeUp, Toppr, GoSeeko, ClassPlus, et al.