ConveGenius raises $5 million in fresh funding
- ConveGenius will use the funds to launch its conversational artificial intelligence (AI) platform, ConveGenius.AI in India and global markets
Edtech social enterprise ConveGenius on Tuesday said that it has raised $5 million as a part of a fresh fundraise led by new investors BAce Capital, Heritas Capital and 3Lines Venture Capital.
Existing investors Michael and Susan Dell Foundation also participated as a part of the round.
The company will use the funds to launch its conversational artificial intelligence (AI) platform, ConveGenius.AI in India and global markets. Through ConveGenius.AI, the company looks to expand its products on 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.
The eight-year-old learning platform aims at making quality education accessible for middle- and low-income groups across India and make quality education accessible to 100 million marginalized children in India.
“We are excited to launch ConveGenius AI for democratising digital access to billions of users globally and make knowledge and content accessible with a one-click experiences,” said Jairaj Bhattacharya, chief executive officer, ConveGenius Group.
ConveGenius’ edTech use case has scaled to 14 million monthly active users in India with 35 million daily conversations, catering to 10 different languages, the company said in a statement.
“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,” said Janet Chia, head of venture capital at Heritas Capital.
In August 2016, ConveGenius had raised ₹6 crore from The Michael & Susan Dell Foundation.
“ConveGenius has focused on the broad and hitherto unserved market of 235 million students who belong to the first-generation mobile internet users with households using smartphones and mobile devices for the first time. Its focus on mass market users and democratisation of personalised content distribution by building conversational user experiences for mobile devices has created a niche segment for innovation and value creation,” said Pallab Chatterjee, chairman, 3Lines Venture Capital.
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First Published:19 Oct 2021, 05:52 PM IST
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