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Edtech firm ConveGenius acquires learning platform Gray Matters India
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ConveGenius Edu Solutions Pvt Ltd, which operates an education-technology startup that addresses learning and skill gaps, has acquired Gray Matters India.

The Gray Matters India, set up in 2013, operates a learning and analytics platform that provides insights through standardised assessments. Interestingly, both companies are backed by the Michael and Susan Dell Foundation.

The deal sum was not disclosed.

In a statement, ConveGenius said that the acquisition will help it integrate capabilities with its own platform, and will help its edtech for Naya Bharat campaign. The move will also let it create a learning-based interoperable architecture in line with the draft National Education Policy 2020.

“ConveGenius has grown significantly in reach and impact and is playing a pivotal role in bringing the power of edtech to government and budget private schools,” Michael and Susan Dell Foundation director Prachi Jain Windlass said.

Gray Matters India founder Pradeep Sharma said the move will also help make learning assessments for students scalable and personalised. The firm has data from over six million children across 15 states in the country.

ConveGenius was set up in 2013 by IIIT Hyderabad alumni Jairaj Bhattacharya and Shashank Pandey. In August 2016, it raised Rs 6 crore (around $900,000) from the Michael and Susan Dell Foundation. 

Prior to that, it had secured $300,000 (Rs 2 crore) in a pre-Series A round in November 2015 from unnamed investors based in India and Southeast Asia.

The acquisition of Gray Matters India is another example of growing activity in the edtech space.

Last week, VCCircle reported that investors such as Nexus Venture Partners and Omidyar Network had pocketed stellar returns from their exit in Byju’s $300 million acquisition of portfolio company WhiteHat Jr.

Previously, Byju’s had bought learning platform Math Adventures in 2018 and Pearson-owned Tutorvista and Edurite as part of a single deal in 2017.

Another large ed-tech firm making acquisitions is the Facebook-backed Unacademy. Last month, it struck its third reported acquisition of the year by picking up a majority stake in the K-12 learning-focussed platform Mastree.

Prior to Mastree, it announced the acquisition of medical-education platform PrepLadder Pvt. Ltd for $50 million. Before that, it had acquired Delhi-based online exam preparation startup Kreatryx in March.

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