EdTech Startup, ConveGenius, has raised $5 Million in its Pre Series A fundraising
Pre-seed round led by BAce Capital, Heritas Capital, 3Lines Venture Capital, and already existent investor Michael and Susan Dell Foundation helped ConveGenius to secure $5 million.
ConveGenius is an educational platform with the aim to make quality education accessible to all. The company has announced recently that it has raised $5 million to launch its new product, ConveGenius AI. And this product will not only be launched in India but also in different global markets.
Although the company couldn’t secure a lot of funds at the start, the scalability of the company increased since its establishment. The company started in 2013, and it secured its first funding in August 2016. Michael and Susan Dell Foundation was the first investors who invested ₹6 crores. The Foundation believed that it was the right time to expand the product to millions of children.
ConveGenius has focussed on the WhatsApp ecosystem to tap the potential of 235 million students belonging to the first generation. The company launched ConveGenius. AI in 2020 with the motto to provide dynamic services to cater to the needs of the students during covid led school’s closure, especially of K-12 in the lower-income cities. It was surprising to see that this Edtech solution became quickly popular among the students. It is worthwhile to note that nearly 14 million users used the solution with 35 million daily conversations. And the growth trajectory continued upwards since then.
The company is planning to use the funds to expand its services in the WhatsApp ecosystem and other conversational-based AI channels simultaneously. The ultimate goal of the company is to make quality education accessible to as many students as possible. However, the company is also focussing on improving its AI/Ml algorithms to further ameliorate efficiency and productivity.
“We are excited to execute on our mission to take our value proposition to one billion users globally and make knowledge and content accessible for all in a one-click experience,” said Jairaj Bhattacharya, the CEO of ConveGenius.
The applications of AI in the education sector have become more prominent during the pandemic. In the case of ConveGenius, the blend of web development and AI, enabled the company to provide a unique solution to nudge education. However, the overall demand for eLearning platforms, through the development of educational applications, is increasing persistently as it has proved a very handy and cost-efficient method of learning.
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