Labster, the Danish company which builds online tools to make science learning accessible easily globally has grabbed a Series B financing where it picks up $21 million. Owl Ventures led the latest financing with participation from Balderton Capital, Northzone and Swisscom Ventures.
Existing backers of the firm that includes the likes of Nordic Makers, David Helgason, EduCapital and Entangled Group continue to trust the firm as they too participated in the round which takes the total amount raised by the firm to $34.7 million. The last investment for the firm came in 2017 when Balderton Capital had led $10 million capital infusion.
Labster was launched in 2011 Mads Tvillinggaard Bonde, Michael Bodekaer. The platform by the company is a 3D virtual learning environment which is based on a virtual lab. The game-like multimedia experience provided by the platform keep the students engaged in the learning which are coupled with molecular 3D animations, quiz questions, and background theory.
Bodekaer talking about the firm said, “STEM-related careers are increasingly becoming both more in demand and also more important than ever before. However, most students will never have access to expensive, high-tech labs, or have enough time in the lab to learn critical skills they’ll need.”
The company says that more than 150 universities and schools are used the platform last year, helping more than 200,000 students across the globe. Big names like Harvard, MIT, Stanford, Exeter University and ETH Zurich are using the platform.
Bodekaer reveals that they are competing with the status quo. As per Bodekar, there are institutions who are hesitant to embrace the latest technologies. “There can be several reasons why they are hesitant, but the most common one we see is educators not feeling like they have the time or knowledge to implement virtual labs into their teaching. That’s why we are continuously working on our training and onboarding to help educators get started with virtual labs. Our goal is for educators to feel like we are holding their hand every step of the way, and fortunately the feedback we are getting indicates that we are doing a pretty good job of that," he adds.
As the fresh funds have arrived, it will be interesting to see how Labster moves forward.
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