In a recent development, ConveGenius, one of India’s leading EdTech social enterprises working to reduce the existing learning and skill gap through affordable means of tech-enabled teaching and learning, has acquired Gray Matters India (GMI), to augment its personalized and adaptive learning platform. The step has been taken to further strengthen their EdTech for Naya Bharat campaign that aims to empower 100 million students at the bottom of the education funnel. The acquisition will help ConveGenius integrate GMI’s measurement science with its automated learning capabilities and help under-served students diagnose their remediation requirement for missing skills and knowledge through a tailored set of instructions. Gray Matters India’s annual revenue rate (ARR) is about 1M $.
While collecting children’s teaching and learning transactions, the digital learning fingerprint of every learner contains encoded information associated with their cognitive skillsets. This data helps ConveGenius understand the growth trajectory of a learner in terms of skills constitution, retention, learning style, and social and emotional well-being. By leveraging GMI’s platform, ConveGenius will be able to visualize an underlying super taxonomy of foundational and cognitive learning skills and will create an interoperable architecture for learning according to the NEP 2020, where digital data from multiple education and learning organizations can be transferred, compared, and analysed.
As part of the Insights team, GMI will help ConveGenius enhance students’ learning levels with reliable and transparent communication infrastructure. It will boost ConveGenius’s mission of transforming the learning outcomes by providing affordable technology to the bottom 100 million students falling in the K-12 category, including AI-based learning, and high-stake assessments and evaluations spanning across various platforms such as Web, Android and WhatsApp – thereby making learning easily-accessible and engaging like never before.
Commenting on the announcement, Prachi Jain Windlass – Micheal and Susan Dell Foundation, said, “We are very excited about the coming together of two high-performing organizations with a sharp focus on improving education outcomes for millions of children in India. ConveGenius has grown significantly in reach and impact and is playing a pivotal role in bringing the power of Ed-tech to government and budget private schools. GMI has not only set the standard for large-scale student assessments in India, but it has also paved the way for instruments like Development Impact Bonds in education. We are excited about the improvement in student outcomes this merger will undoubtedly bring.”
“Bringing education to the bottom 100 million children in India at an affordable price point, done in a viable manner, is a tough social entrepreneurship problem to crack. I am glad ConveGenius has figured it out and is well on its way to serve this segment via integration of Personalised and Adaptive learning, and by using their proprietary skill finger-printing. In that sense, Covid has brought strong wind in the sails for leading EdTech players such as ConveGenius, and I am excited by the significant social impact they will create”, says Rajat Dhawan, senior partner at McKinsey & Company, who has been an angel investor in ConveGenius in his personal capacity.
“When we started Gray Matters India, we envisioned assessment as a tool that would help students realise their full learning potential. We experimented boldly and innovated in designing assessments and measurement models for the Indian context. This partnership with ConveGenius, would further this vision by making assessments personalised in a scalable manner.” – Pradeep Sharma (Founder – Gray Matters India)
“We are very excited about this merger and are confident that GMI’s intellectual property in the field of education assessment would add tremendous value to current and future offerings of ConveGenius.” – Vishal Bharat (CBA Capital and India Representative for Gray Matters Capital)
“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. By integrating into a cutting edge, tech-based content provider like CG, we will be able to unleash the full power of data, assessments and measurement to transform the education system” – Sowmya Velayudham (CEO – Gray Matters India)
“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.”, added, Jairaj Bhattacharya, Cofounder of ConveGenius.