Founded in 2013 ConveGenius has announced a fresh funding round raised from UBS Optimus Foundation, Mount Judi Ventures and other existing investors. As stated on January 11, the new funding round amounting to $7 million will be used to expand the company’s reach in international markets. The round is being held when the education technology sector’s financing for the K-12 vertical has been decreasing.
Founded by Bhattacharya and Shashank Pandey, ConveGenius has established three business verticals. They offer 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.
Founder and managing director Jairaj Bhattacharya 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. The capital raised will empower us to export another Indian technology to global markets
The company will use the fresh funding to advance the generative AI capabilities of its conversational AI platform SwiftChat, built on AWS (Amazon Web Services), as well as to expand its offerings internationally. The move aligns with startups nationwide experimenting with Generative AI to expand existing offerings or launch newer ones.
Ali Shariff, Partner at Mount Judi Ventures said:
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
ConveGenius’ existing backers, Michael & Susan Dell Foundation (MSDF), Bace Capital, Heritas Capital, and Gray Matters Capital, also participated in the current funding round. The company also revealed the funding to be a part of an awaited larger round that ConveGenius is working towards without divulging details on the timeline.
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