ConveGenius, an artificial intelligence (AI)-first edtech, has secured $7 million (Rs 58 crores) in an investment round. This was part of a more extensive fundraising initiative focused on advancing the generative AI capabilities of SwiftChat and expanding into international markets.
The round also saw strong participation from the Michael & Susan Dell Foundation (MSDF), which has backed ConveGenius since its inception and participated in every round. The round also saw continued participation from other existing investors like Bace Capital, Heritas Capital, and Gray Matters Capital.
Founded in 2013 by Jairaj Bhattacharya and Shashank Pandey, ConveGenius Group has three business verticals addressing distinct aspects of education and data intelligence. The company claimed that SwiftChat's conversational AI bot store reaches 143 million registered user profiles and is adopted in over 577,000 schools in India.
Swift School's personalised adaptive learning platform, implemented in more than 25,000 schools across 16 states in India, is 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.
Bhattacharya, co-founder and managing director of ConveGenius, said the capital raised will empower the company to export another Indian technology to global markets.
Dhun Davar, head of social finance at UBS Optimus Foundation and head of social impact and philanthropy, India and Middle East, UBS, said, "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. Their impact is measurable and scalable, and we look forward to working with them to reach millions of students."
The UBS Optimus Foundation is an independent grant-making foundation that offers UBS clients a platform to use their wealth to drive positive social and environmental change. The Foundation selects programs that improve children's health, education, and protection, ones that have the potential to be transformative, scalable, and sustainable, as well as programs tackling environmental and climate issues.
Ali Shariff, Partner at Mount Judi Ventures, said that ConveGenius has implemented 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. We at Mount Judi Ventures are thrilled to support ConveGenius's mission to redefine education through AI," he added.
Indian entrepreneurs started Mount Judi Ventures to create wealth through mutually fair and equitable venture capital investments. MJV brings together investors and promising entrepreneurs in the healthcare, education, technology and consumer sectors.