ConveGenius raises Rs 58 crores led by UBS Optimus Foundation, Mount Judi Ventures

Edtech fundraise: AI-led edtech platform ConveGenius has raised $7 million (about Rs 58 crores) in a funding round led by UBS Foundation and Mount Judi Ventures.

Other investors in the growth financing round include its existing investor base of Michael & Susan Dell Foundation,  Bace Capital, Heritas Capital, and Gray Matters Capital.

The round is focused on advancing the generative AI capabilities of SwiftChat, bringing it to 200 million users and expanding into international markets, the company said in a statement.

The funding announcement is among the first for the sector this year. It comes at a time when platforms in K-12 learning are not gaining much investor traction, after the world opened up post-pandemic, and governance issues emerged in the sector.

Noida-based ConveGenius was founded in 2013 by Jairaj Bhattacharya and Shashank Pandey, and has three business verticals for education and data intelligence, namely SwiftChat - a conversational AI bot store, Swift School - personalised adaptive learning platform for schools, and Swift Insights - large-scale assessments and data intelligence platform.  

Their conversational AI bot store pans across 143 million users in close to 6 lakh schools in India.

Jairaj Bhattacharya, Cofounder and Managing Director of ConveGenius said the 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 last raised a seed round in 2021 worth $5 million by BAce Capital, Heritas Capital, and 3Lines Venture Capital along with MSDF. The company has raised eight rounds worth $9.09 million prior to the current funding, as per data platform Tracxn.