Labster, the world’s leading platform for virtual labs and interactive science, has raised $47 million in additional funding to support massive growth opportunities worldwide. This new capital infusion will enable Labster to further develop in Europe and the United States and to establish itself within Asia and Latin America. By investing more funds into its library of science simulations and expanding its reach to younger students and adult workforce skills training, Labster will be able to serve 100 million students around the world through its institutional and government partnerships. Total investment in Labster now stands at $147 million.
Labster’s mission is to provide all students, regardless of socioeconomic status or geographic location, with equitable access to high-quality engaging science education and virtual laboratories — an ongoing critical need accelerated by the pandemic and now rapidly growing globally as digitalization of the education sector with hybrid and remote learning continues,” said Michael Bodekaer Jensen, co-founder and CEO of Labster. “This additional funding will help us to continue growing our support for a broader group of students, teachers, and educational institutions around the world to make our mission a reality. There has been a fundamental change in the nature of education over the last two years that confirms the high value and impact on student engagement and learning outcomes of virtual educational simulations offered in tandem with in-person, teacher-led coursework in a post-pandemic world.”
This new financing tranche is sourced from new investors: Sofina Group and Pirate Impact, along with fresh infusions from existing investors: Owl Ventures, Andreessen Horowitz, EduCapital, NPF Technologies, and GGV Capital.
The new funding will contribute to Labster’s ambitious roadmap for expansion. In addition to expanding into new geographic regions, Labster is now hiring across all major teams including engineering, product, sales, and customer success. This next stage of expansion will provide educators and students with virtual lab simulations for hybrid, remote, and in-person learning modalities worldwide.
“We are tackling a global learning crisis where current access to engaging and impactful education is not meeting demands or servicing students well enough,” said Mads Tvillinggaard Bonde, Labster co-founder and executive chairman. “Science education is traditionally so ineffective that 60% of STEM students drop out. Labster is the only offering in the market that provides a highly interactive life-like laboratory experience that is documented to reduce failure rates and improve outcomes for students. We are proud to produce high-quality, affordable science education that helps teachers and students to empower the next generation of scientists.”
Source: Businesswire
