Edtech startup ConveGenuis and bakery brand The Baker’s Dozen secured early-stage funding, the companies said on Thursday.
Artificial intelligence (AI)-based edtech startup ConveGenius has raised $7 million (Rs 58 crore) in a funding round from a host of investors including UBS Optimus Foundation and Mount Judi Ventures.
Existing investors Michael & Susan Dell Foundation (MSDF), Bace Capital, Heritas Capital and Gray Matters Capital also participated in the round.
Founded in 2013 by Jairaj Bhattacharya and Shashank Pandey, ConveGenius is an edtech startup that uses AI-based chatbots and adaptive learning platforms to improve the learning experience of students.
“The capital raised will allow us to expand our presence across global markets," said Bhattacharya, co-founder and managing director, ConveGenius.
SwiftChat, ConveGenius' conversational AI bot store claims to have a user base across 577,000 schools in India and its personalized adaptive learning platform has been implemented in more than 25,000 schools across 16 states in India.
The Baker’s Dozen
Homegrown bakery brand The Baker’s Dozen has raised around $4 million (Rs 33 crore) in a pre-Series A round from institutional investors including Wipro Consumer Care - Ventures, Mirabilis Investment Trust and She Capital along with existing investor Fireside Ventures.
The funding will be used to expand the brand’s presence in non-metro and Tier-I cities along with developing its product portfolio. Another portion of the funding will be directed towards marketing and brand-building.
The funding comes two years after the brand had raised Rs 25 crore in its maiden funding round from Fireside Ventures.
Founded in 2013 by Sneh Jain and Aditi Handa, The Baker’s Dozen was operating bootstrapped until 2021. Started in Mumbai, the bakery brand serves bread, cakes, cookies, crackers and premixes.
It is available across 40 cities in India currently and retails from 50 stores, in addition to being available across 600 modern and general trade stores and e-commerce and quick commerce channels.
