LONDON, SAN FRANCISCO, and SINGAPORE, Oct. 19,
2021 /PRNewswire/ -- ConveGenius has raised $5M USD in Venture Capital funding to grow its
conversational AI platform in India and South-East Asian markets.
The company first launched its conversational AI platform in
2020 with a focus on providing a tailor-fit EdTech solution that
offers an adaptive Whatsapp-based learning system for K-12 students
from lower tier cities, who has been deeply affected by school
closures amidst the COVID pandemic. Within a year of launch, Its
EdTech solution has blitzscaled to 14 million monthly active users
with 35 million daily conversations, catering to 10 different
languages and continues to grow at a rapid pace.
With this round of funding, Convegenius.AI aims to expand its
products on Whatsapp ecosystem and other Conversational AI based
channels beyond EdTech, to service more customers across different
verticals and allow developers to launch their solutions on the
platform. ConveGenius AI will also continue to strengthen its AI /
ML capabilities and is currently in advanced talks with multiple
businesses to deliver sector-focused solutions to over 500 million
users currently active on different chat platforms.
This funding round was led by new investors, BAce Capital,
Heritas Capital and 3Lines Venture Capital as well as existing
investor, Michael and Susan Dell Foundation.
Quotes by Stakeholders:
- "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," said Ms. Janet Chia,
Head of Venture Capital at Heritas Capital.
- "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," said Pallab
Chatterjee, Chairman 3 Lines VC Rocket Fund.
- "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," says Prachi Windlass (Director, Michael &
Susan Dell Foundation).
- "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.