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ConveGenius Secures Additional $1.8 Mn in Series A, Forges Strategic Partnership with Searce Inc.

Edtech startup ConveGenius continues its impressive fundraising streak with an additional $1.8 million infusion in its ongoing Series A round, led by Searce Inc., accompanied by the announcement of a strategic partnership between the two entities.

Based in Noida, ConveGenius had previously secured $7 million in this round, co-led by UBS Optimus Foundation and Mount Judi Ventures back in January.

The latest funding injection is earmarked to bolster the company's commitment to offering IP-led consulting services to the public sector and educational (EDU) segment across key global markets, including the US, Europe, APAC, Middle East, and India, as stated in a press release by ConveGenius.

Founded in 2013 by Jairaj Bhattacharya and Shashank Pandey, ConveGenius collaborates with state governments, corporate social responsibility (CSR) initiatives, non-governmental organizations (NGOs), and educational institutions to deliver sustainable educational impact within India's K-12 space.

According to ConveGenius, the new partnership with Searce Inc. is geared towards enhancing its cloud services and expediting the development of generative AI technologies, capitalizing on the momentum generated by recent advancements. The company boasts of impacting over 140 million students across India.

In terms of financial performance, ConveGenius witnessed a notable uptick in revenues from operations, climbing to Rs 23.93 crore in the fiscal year ending March 2023 from Rs 20.72 crore in FY22. Furthermore, the company managed to turn around its financials, generating a profit of Rs 1.53 crore in FY23, compared to a loss of Rs 3.88 crore in the preceding fiscal year.

While carving its niche in the edtech landscape, ConveGenius may encounter competition from established players like Vedantu, GradeUp, Toppr, GoSeeko, and ClassPlus.

The latest funding boost and strategic collaboration underline ConveGenius's trajectory towards innovation and sustainable educational impact, positioning it as a key player in the evolving edtech ecosystem.


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