Strawbees secures SEK 6M in angel investing and expands operations in Thailand.
Strawbees, a Gothenburg, Sweden-based education company, secured SEK 6M ($750k) in a new investment round. The money comes from local angel investors, including Fabian Bengtsson, Anna Stenberg and Daniel Johnsson.
At the same time, the company has announced a deal with a major distributor in Thailand for becoming a supplier to 30,000 schools in the country.
Strawbees, founded in 2014 and led by CEO Erik Bergelin, developed an educational solution that uses gaming for developing a powerful skillset for the future through hands-on exploration and working with design, construction, electronics and programming. The company positions itself as a cheaper alternative to Lego Education.
In 2016, Strawbees was almost breakeven, accounting in the Swedish records a revenue of SEK 5.8M ($750k). Also in 2016, the company received a minority investment from Teacher Gaming (now 5 More Minutes), a Finnish educational company, known for having sold MinecraftEdu to Microsoft in 2016.