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ConveGenius, an EdTech social enterprise, has acquired Gray Matters India (GMI) to augment its personalised and adaptive learning platform. Financial terms of the deal were not immediately disclosed.
Gray Matters India has an annual revenue rate (ARR) of about $1 million.
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, it said in a statement.
“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,” Rajat Dhawan, senior partner at McKinsey & Company, who was an angel investor in ConveGenius in his capacity, said.
“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,” he added.
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