ConveGenius, an EdTech social enterprise working to reduce the existing learning and skill gaps, has raised $5 million in its pre-seed funding round led by BAce Capital, Heritas Capital, and 3Lines Venture Capital.
The company's existing investor Michael and Susan Dell Foundation also participated in the new round.
ConveGenius is an EdTech social enterprise that has a suite of personalized and adaptive learning solutions. It uses research in the science of learning, AI, and Nudge theory to enhance India's quality of education and bridge learning gaps for the masses.
Founded by Jairaj Bhattacharya and Shashank Pandey in 2013, ConveGenius aims to offer superior learning outcomes for K-12 students, and its products aim to assess the current learning levels and create gamified and personalized learning journeys for every child. It aims to deliver educational content to children in 100 million middle- and low-income households in India. And with the launch of its AI platform, the company aims to scale that to a billion homes globally. The Singapore-based startup claims to have at present 14 million monthly active users, carrying out 35 million daily conversations in 10 different languages.
Commenting on the development, Jairaj Bhattacharya, Co-founder & CEO of ConveGenius, said,
"We are excited to launch ConveGenius AI for democratizing digital access to billions of users globally and make knowledge and content accessible with one-click experiences."
With the latest funds, ConveGenius plans to launch its conversational AI platform ConveGenius.AI in India and global markets. Through ConveGenius.AI, the company aims to expand its products on the Whatsapp ecosystem and other conversational AI-based channels horizontally, to service more customers across different verticals and allow developers to launch their solutions on the platform. ConveGenius also aims to continue to strengthen its AI/ML capabilities and is currently in advanced talks with multiple businesses to deliver sector-focused solutions to over 500 million users currently active on different chat platforms.
Janet Chia, Head of Venture Capital at Heritas Capital, said,
"As schools were closed over prolonged periods during the pandemic, we believe that ConveGenius is well placed to tackle the learning crisis and gaps that have severely impacted students across India and in other emerging markets in the region. We are pleased to support ConveGenius in their mission to further scale their impactful solutions, providing greater access to affordable quality education for all."
ConveGenius had earlier received funding worth Rs 6 crore ($900,000) in equity investment from Michael and Susan Dell Foundation in August 2016.
In July 2020, ConveGenius has launched a pan-India campaign #EdTechforNayaBharat to empower education for a rising digital India. The following month, it acquired Gray Matters India (GMI) to augment its personalized and adaptive learningplatform.