Edtech social enterprise ConveGenius raises $7M from UBS Optimus Foundation, Mount Judi Ventures, others
Edtech social enterprise ConveGenius raises $7M from UBS Optimus Foundation, Mount Judi Ventures, others Edtech social enterprise ConveGenius has raised $7 million, part of a more extensive fundraising focused on advancing the generative AI capabilities ofits conversational AI platform SwiftChatand expanding into international markets, the company announced on Thursday.The round was raised from UBS Optimus Foundation, venture capital firm Mount Judi Ventures, and existing investors including Michael & Susan Dell Foundation(MSDF), Bace Capital,Heritas Capital, andGray Matters Capital. Jairaj Bhattacharya, Cofounder & Managing Director, ConveGenius,said, “This 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 startup runs SwiftChat with 143 million registered user profiles and a presence in over 5.7 lakh schools in India, the personalized adaptive learning platform Swift School implemented in over 25,000 schools in 16 states and Swift Insights – a large-scale assessments and data intelligence platform. “We are dedicated to driving improved learning outcomes for children by enhancing the quality of education, not just in India but worldwide. That’s why we are delighted to partner with ConveGenius, as their SwiftChat generative AI platform provides the personalised learning content and teacher training support needed in schools,” said Dhun Davar, Head of Social Finance, UBS Optimus Foundation and Head of Social Impact & Philanthropy, India and Middle East, UBS. The UBS Optimus Foundation is an independent grant-making foundation that offers UBS clients a platform to use their wealth to drive positive social and environmental change. The foundation selects programmes that improve children’s health, education, and protection. According to the data platform Statista, the Indian edtech market was valued at over $2.8 billion in 2020 and is estimated to significantly increase to over $10 billion by 2025.
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