The pre-seed round was led by new investors, BAce Capital, Heritas Capital and 3Lines Venture Capital as well as existing investor, Michael and Susan Dell Foundation.
In a bid to expand its portfolio, ConveGenius has raised $5M USD in venture capital funding to launch its conversational AI platform, ConveGenius AI in India and global markets. The pre-seed round was led by new investors, BAce Capital, Heritas Capital and 3Lines Venture Capital as well as existing investor, Michael and Susan Dell Foundation.
Convegenius.AI aims to expand its products on Whatsapp ecosystem and other Conversational AI-based channels horizontally, to service more customers across different verticals and allow developers to launch their solutions on the platform.
ConveGenius’ EdTech use case has blitz scaled to 14 million monthly active users in India with 35 million daily conversations, catering to 10 different languages and continues to grow at a rapid pace. The learning platform aims at making quality education accessible for middle- and low-income groups across India and make quality education accessible to 100 million marginalized children in India.
Commenting on the fundraising, Jairaj Bhattacharya, CEO, ConveGenius Group, said, “We are excited to launch ConveGenius AI for democratising digital access to billions of users globally and make knowledge and content accessible with a one-click experiences”.
Ms. Janet Chia, Head of Venture Capital at Heritas Capital, said, “As schools were closed over prolonged periods during the pandemic, we believe that ConveGenius is well placed to tackle the learning crisis and gaps that have severely impacted students across India and in other emerging markets in the region. We are pleased to support ConveGenius in their mission to further scale their impactful solutions, providing greater access to affordable quality education for all.”
Pallab Chatterjee, Chairman 3 Lines VC Rocket Fund, said, “ConveGenius has focused on the broad and hitherto unserved market of 235M students who belong to the first-generation mobile internet users with households using smartphones and mobile devices for the first time. Its focus on mass market users and democratisation of personalised content distribution by building conversational user experiences for mobile devices has created a niche segment for innovation and value creation”.
Prachi Windlass (Director, Michael & Susan Dell Foundation), commented, “The Dell Foundation first invested in the company in 2016 and we believe this is the right time to take the product to millions of children by launching the direct-to-consumer (D2C) version”
Source: Business World