Labster completes $21M in Series B funding from Owl Ventures, Balderton Capital, Northzone and Swisscom Ventures
Labster, a Copenhagen, Denmark and Boston, USA - based company developing VR interactive laboratory simulations for educating STEM students, announced the completion of $21M in Series B funding.
The investment round was led by Owl Ventures. Balderton Capital, Northzone and Swisscom Ventures also participated in the round, while Nordic Makers, David Helgason, EduCapital and Entangled Group made follow-on investments.
The money will be used for accelerating the expansion of Labster’s simulation catalog and development of new lab simulations, giving students and educators alike even more access to realistic lab experiences. The funding will also enable Labster to continue to scale its U.S. operations, including customer support and sales.
Labster was founded in 2012 Michael Bodekaer Jensen and Mads Tvillinggaard Bonde with the aim to improve access to STEM education. The company provides virtual laboratory simulations, available in classrooms where students can conduct lab assignments in a digital version of a science lab, answering questions along the way to prove their understanding. The experience includes a mix of 3D animated simulations along with assessments.
Labster is used in over 150 institutions worldwide, with most of its clients in the USA. The company now has about 65 full-time employees and 40 contractors. Past and current clients include Hong Kong University, ETH, Imperial College, Stanford University and University of California, Berkeley.
Prior to this deal, Labster raised almost $15M.