Posted: October 19, 2021 at 12:15 am CDT|Update: 3 hours ago
LONDON, SAN FRANCISCO, and SINGAPORE, Oct. 19, 2021 / PRNewswire / – ConveGenius has raised US $ 5 million in venture capital to develop its conversational AI platform in India and Southeast Asian markets.
The company first launched its conversational AI platform in 2020 with a focus on delivering a bespoke EdTech solution that delivers a Whatsapp-based adaptive learning system for kindergarten students. in grade 12 lower-level cities, which have been deeply affected by school closures amid the covid pandemic. Less than a year after its launch, its EdTech solution has grown to 14 million monthly active users with 35 million daily conversations, spanning 10 different languages and continues to grow at a rapid pace.
With this round of funding, Convegenius.AI aims to expand its products on the Whatsapp ecosystem and other conversational AI-based channels beyond EdTech, to serve more customers in different verticals and empower developers to launch their solutions on the platform. ConveGenius AI will also continue to build its AI / ML capabilities and is currently in advanced talks with several companies to provide industry 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 the existing investor, Michael and Susan Dell Foundation.
Quotes from stakeholders:
- “As schools have been closed for long periods during the pandemic, we believe ConveGenius is well positioned to address the learning crisis and the gaps that have severely affected students across India and other emerging markets in the region. We are delighted to support ConveGenius in its mission to further expand its impactful solutions, providing better access to affordable quality education for all ”, said Mrs. Janet Chia, Head of Venture Capital at Heritas Capital.
- “ConveGenius focused on the large, hitherto unserved market of 235M students belonging to the first generation of mobile internet users with households for the first time using smartphones and mobile devices. The focus on mass market users and the democratization of personalized content distribution by creating conversational user experiences for mobile devices has created a niche segment for innovation and value creation., “ noted Pallab Chatterjee, President 3 Lines VC Rocket Fund.
- “The Dell Foundation first invested in the company in 2016 and we believe now is the right time to bring 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 carry out our mission of bringing our value proposition to one billion users worldwide and making knowledge and content accessible to everyone with just one click., “ noted Jairaj Bhattacharya, the CEO of ConveGenius.
Show original content:
SOURCE ConveGenius International
The above press release has been provided courtesy of PRNewswire. The views, opinions and statements contained in the press release are not endorsed by Gray Media Group and do not necessarily state or reflect those of Gray Media Group, Inc.