Quick take:
- Labster has completed a $47 million fundraising Sofina Group and Pirate Impact.
- The 3D Virtual Learning platform said the fund will be used to solidify operations in Europe and the US, as well as, scale globally.
- The funding round was also backed by Andreessen Horowitz, Owl Ventures, EduCapital, NPF Technologies, and GGV Capital.
Labster has raised $47 million bringing its total fundraising to $147 million. The 3D virtual learning platform said it will use the funds to solidify operations in Europe and the US. Labster is also looking to scale its presence in Asia and Latin America while expanding to other geographic locations around the globe.
The science learning platform said the funding round was led by Sofina Group and Pirate Impact with participation from Andreessen Horowitz, Owl Ventures, EduCapital, NPF Technologies, and GGV Capital.
Labster offers immersive labs and interactive science learnings experiences. It currently has offices in Copenhagen, Denmark and Boston, Massachusetts. Andreessen Horowitz led the Series C round announced last year.
Balderton Capital, Northzone, Swisscom Ventures, and David Helgason, founder of Unity Technologies have also invested in the platform that wants to build the Eduverse.
Labster is in the process of beefing up its team as it expands its engineering, product, sales, and customer success teams.
Labster is led by Michael Bodekaer Jensen, CEO, and Mads Tvillinggaard Bonde, co-founder and executive chairman. The startup is looking to revolutionise learning and training experiences by creating a platform that offers fully-interactive virtual training simulations.
The training and education segment of the metaverse has been tipped to be among the potential growth drivers in Citi’s recent research report that estimated the 3D virtual economy to be worth approximately $13 trillion by 2030.
Mark Cuban, who revealed that he has patents pending for VR for medical discounted the technology use in the metaverse as a real opportunity. However, virtual and augmented reality technologies are being adopted in the healthcare sector, which makes, Labster’s interactive sciences simulations interesting.
Labster’s 3D virtual simulations “are designed to enhance traditional learning outcomes by stimulating students’ natural curiosity and reinforcing the connection between science and the real world,” the company wrote in a statement.
Commenting on the fundraising, Bodekaer Jensen said “the metaverse conversation is massively helping accelerate our mission. We really want to see governments shifting budgets from just building physical buildings to building virtual learning assets. The metaverse analogy is helpful for that.”
Jensen said the overall vision is to reach over 100 million students globally, helping to power up science education around the world.
“My dream vision is that one day someone winning the Nobel Prize for cancer cure or a climate change solution goes on stage and says that it all started with playing with Labster. We would really love to be that kind of ignition,” sifted report.
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