Labster secured $9 million from GGV, Owl Ventures, Balderton and Northzone

Denmark United Kingdom Norway United States Investments 12 August 2020
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Labster, a Copenhagen, Denmark and Boston, USA-based company developing VR interactive laboratory simulations for educating STEM students, announced the completion of a fresh equity funding of $9 million.

The round was led by GGV, and included the existing investors Owl Ventures, Balderton and Northzone. Jenny Lee, a Shanghai-based partner with GGV, will take a board seat at Labster.

The money will be used for business expansion, particularly in Asian markets.

Labster, founded in 2012 Michael Bodekaer Jensen (CEO) and Mads Tvillinggaard Bonde, develops fully interactive advanced lab simulations based on mathematical algorithms that support open-ended investigations.

The simulations include gamification elements such as an immersive 3D universe, storytelling and a scoring system which stimulates students’ natural curiosity and highlights the connection between science and the real world.

The labs are being used by a range of educational institutions including California State University, Harvard, MIT, Exeter University, Stanford, University of Hong Kong and Berkeley, which are charged for the e-learning solution as a mean to support and enhance in-person courses. Based on the subscription an institution chooses, participants can get differing degrees of access to a virtual laboratory.

Prior to this round, Labster raised $35 million in capital investment.