VC Fund Investments
Edtech co Convegenius raises $7-M led by UBS Optimus Foundation, Mount Judi Ventures
Noida-based edtech company ConveGenius has raised USD 7 million (about INR 58 crore) in a Series A round co-led by UBS Optimus Foundation and Mount Judi Ventures. The round also saw the participation of existing investors Michael & Susan Dell Foundation, BAce Capital, Heritas Capital and Gray Matters Capital. The proceeds will be used to focus on advanced generative AI capabilities of its product SwiftChat to 200 million users and expanding into the international market.The company had previously raised USD 5 million in October 2021 from BAce Capital, Heritas Capital and 3Lines Venture Capital.Co-founded in 2013 by Jairaj Bhattacharya and Shashank Pandey, ConveGenius partners with state governments, CSRs, NGOs and schools to create sustainable educational impact in the K-12 space across India. The firm claims that its product Swift School’s adaptive learning platform has been implemented in more than 25,000 schools across 16 states.ConveGenius’s revenues from operations grew to INR 23.93 crore during FY23 from INR 20.72 crore in FY22. The company generated a profit of INR 1.53 crore in FY23 compared to a INR 3.88 crore loss in the previous fiscal.
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