ConveGenius, a leading K-12 edtech company, has recently announced that it has raised $7 million in funding from UBS Optimus Foundation, Mount Judi Ventures, and other existing investors. The investment will be used to further develop the generative AI capabilities of its conversational AI platform, SwiftChat, which is built on AWS (Amazon Web Services). This funding round comes at a time when funding for the K-12 education technology sector has been scarce.
The funding will allow ConveGenius to continue its exploration of generative AI, a growing trend among startups in India and around the world. Startups are increasingly leveraging generative AI to enhance their existing offerings and create new ones.
Although ConveGenius did not disclose specific details about the larger funding round it is working towards, the company stated that this investment represents a critical milestone in its journey. The funds will enable ConveGenius to not only expand its reach in global markets but also to empower learners through data-driven governance for transformative change in education.
Founded in 2013 by Jairaj Bhattacharya and Shashank Pandey, ConveGenius operates through three business verticals: SwiftChat, Swift School, and Swift Insights. SwiftChat is a conversational AI bot store, Swift School is a personalized adaptive learning platform for schools, and Swift Insights is a large-scale assessments and data intelligence platform. With this new investment, ConveGenius aims to strengthen its presence in international markets.
In October 2021, ConveGenius raised $5 million in a pre-seed funding round while launching its SwiftChat platform. The current funding round also saw significant participation from existing investors, including the Michael & Susan Dell Foundation (MSDF), Bace Capital, Heritas Capital, and Gray Matters Capital. The company has been highly acclaimed for its educational solutions that cater to students, teachers, institutions, and government administrators, and has been successful in transforming public education systems.
Ali Shariff, a partner at Mount Judi Ventures, expressed excitement in supporting ConveGenius’s mission to redefine education through AI. This new investment will further strengthen ConveGenius’s position as a leading provider of AI-powered educational solutions.
The source of the article is from the blog be3.sk