Edtech ConveGenius raised $7 M Series A funding from Mount Judi Ventures, others
In a Series A round led by UBS Optimus Foundation and Mount Judi Ventures, edtech startup ConveGenius has raised $7 million, or roughly Rs 58 crore. The current investors, Bace Capital, Heritas Capital, Gray Matters Capital, and the Michael & Susan Dell Foundation, also took part in the round.
Prior to this, in October 2021, the Noida-based company had raised $5 million from 3Lines Venture Capital, Heritas Capital, and Bace Capital.
According to a press release from ConveGenius, the money will go toward developing SwiftChat’s sophisticated generative AI features for its 200 million users and entering new markets abroad.
ConveGenius is an Indian K–12 organization that was co-founded in 2013 by Jairaj Bhattacharya and Shashank Pandey. It collaborates with state governments, CSRs, NGOs, and schools to generate long-lasting educational impact.
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. Furthermore, 7 million students from 20 states in India and four other countries have had their learning outcomes measured thanks in large part to Swift Insights’ large-scale assessments and data intelligence platform.
ConveGenius saw an increase in operating revenues from Rs 20.72 crore in FY22 to Rs 23.93 crore in FY23, ending in March 2023. The company also made a profit of Rs 1.53 crore in FY23 as opposed to Rs 3.88 crore in the previous fiscal year.
