Noida-based edtech social enterprise ConveGenius has acquired education assessment and analytics platform Gray Matters India (GMI).
The acquisition will help ConveGenius integrate GMI’s measurement science to arrive at remediation requirements for students on the ConveGenius platform.
Financial details of the deal have not been disclosed.
Founded in 2013 by IIIT Hyderabad alumni Jairaj Bhattacharya and Shashank Pandey, ConveGenius provides technology-based personalised and adaptive learning solutions for remedial students in the K-12 segment. The content is available in nine Indian languages.
“We are excited to integrate GMI's instrumental work within ConveGenius, their products will be tightly integrated to improving our tech-stack for Naya Bharat, The Affordable private schools, budget schools and government schools will need to adapt with rapid shifts in the space and we are working towards creating an intelligent and seamless product stack to organise this segment,” Bhattacharya said.
Both ConveGenius and GMI are backed by the Michael and Susan Dell Foundation, a private charitable foundation founded by the Dell family.
Gray Matters Capital incubatee GMI started operation as a non-profit and pivoted to a for-profit model in 2013. GMI will help ConveGenius improve learning outcomes by including artificial intelligence-based learning and high-stake assessments and evaluations across the web, Android and WhatsApp.
“We have built a robust assessment system and models for accurate measurement of learning outcomes in children. Such a universal indicator of education quality is critical for the government systems, private schools, impact investing and the new-age ed-tech players,” said Sowmya Velayudham, CEO of GMI.
With schools and educational institutions relying on online learning due to the Covid-19 pandemic, the edtech sector has seen an increase in investments as well as consolidation.
Upskilling platform Springboard raised $31 million led by Telstra Ventures earlier this month. K-12 focused learning platform Byju’s bought coding platform provider, WhiteHat Jr in a $300 million deal earlier this month. General Atlantic backed Unacademy has been on an acquisition spree, acquiring majority stake in K12 learning platform Mastree and post-graduate medical test preparation platform, PrepLadder for $50 million .