Labster raised $60 million in a Series C round led by Andreessen Horowitz a16z
Labster, a Copenhagen, Denmark and Boston, USA-based company developing VR interactive laboratory simulations for educating STEM students, announced that it secured capital of $60 million in a series C funding round.
The money was raised from American VCs led by Andreessen and Horowitz's a16z, and included contributions from existing investors GGV Capital, Owl Ventures and Balderton Capital. The proceeds will be used to expand in other goegraphies and new product development.
Labster, founded in 2012 by CEO Michael Bodekaer Jensen and Mads Tvillinggaard Bonde, develops fully interactive advanced lab simulations based on mathematical algorithms that support open-ended investigations. The company works with more than 2,000 colleges, universities and high schools, including California State University, Harvard, MIT, Exeter University, Stanford, University of Hong Kong and Berkeley.
Labster previously raised more than $40 million, with the last round announced in 2020 when it added GGV on its captable and Jenny Lee, a Shanghai-based partner with GGV, on the board in order to help with Asian expansion.