Copenhagen-based Labster, which sells virtual STEM lab software to educational institutions, recently raised a $60M Series C investment led by U.S. venture firm Andreessen Horowitz (A16z) and with additional participation from Danske Bank and other strategic investors. This brings the total amount of funding for the company to $100M, with previous investments from Novo Holdings and Balderton Capital .
Labster’s mission is to make real-world science education accessible and engaging to everyone by providing courseware that provides immersive simulations in artificial intelligence (AI), robotics, nanotechnology and biochemistry, among other areas. The virtual laboratories allow learners to practice hands-on experiments in a safe environment. The company claims its customers span more than 150 universities around the world.
The new funding will be used to increase Labster’s competitive advantage in simulation technologies as well as accelerate its growth in academic markets both within Europe and internationally. Its goal is to create products that engage learners with AI technology across many disciplines by providing realistic representations of instruments, materials, substances and processes they would expect in a university lab environment.
Copenhagen-based Labster, which develops virtual lab simulations with the aim of making science education more engaging and affordable, has announced it has raised a $60 million Series C led by Andreessen Horowitz, bringing the total amount raised to $100 million.
Founded in 2012, the startup has been providing virtual lab simulations to students and educational institutions across the world since then. Labster has since then made the transition to an online platform in response to the pandemic.
Let’s take a closer look at the background of the company and their ambitions.
Overview of Labster
Labster is an award-winning virtual lab software company based in Copenhagen, Denmark that developed the world’s first simulator for teaching life science concepts. The cloud-based platform provides an immersive learning experience for students by means of interactive simulations that allow them to explore and practice the fundamentals of STEM. Students can also engage with experiments and algorithms which respond to actions they take within the simulation tools.
Labster was founded in 2011 by Mads Tvillinggaard Bonde, Michael Bodekaer, and Jonas Hauge. The company offers its virtual lab software to educational institutions worldwide and has a rapidly growing user base; Labster currently works with more than 400 universities across 55 countries. In 2019, Labster raised a $60M Series C led by Andreessen Horowitz – bringing the total amount they’ve raised to a whopping $100M.
The mission of Labster is to use cutting edge technologies to democratize access to quality science education with the aim of inspiring future generations of scientists and innovators around the globe.
Overview of A16z
A16z is a Silicon Valley venture capital firm that focuses investments in technology and research-driven businesses. Founded in 2009 by technology investors Marc Andreessen and Ben Horowitz, A16z has invested in numerous technology companies across various markets. The firm has offices in San Francisco and Menlo Park, California with additional offices located around the world. A16z is focused on helping startups turn ideas into products and services that can be used to create long-term value for its portfolio companies. Its investments range from early-stage venture capital to growth equity, ranging from five million to hundreds of millions of dollars or more per transaction.
A16z’s deals often involve participation in company board meetings, team building exercises, debt financing or acquisitions. By investing at the earliest stages of a business’s formation or growth trajectory, the firm seeks to be part of the story when specific products or services become successful—especially when these tech startups eventually get acquired by larger players such as Google, Microsoft or Amazon.
Most recently, A16z led a $60M Series C round for Copenhagen-Based Labster virtual stem lab software which brings its total amount raised to date to $100M including existing investors Owl Ventures and Balderton Capital as well as IFC Venture Capital Group which is a private sector arm of the World Bank Group.
Copenhagen-Based Labster, Which Sells Virtual STEM Lab Software To Educational Institutions, Raises $60M Series C Led By A16z, Bringing Total Raised To $100M (Natasha Mascarenhas/TechCrunch)
Copenhagen-Based Labster, which sells Virtual STEM Lab software to educational institutions, has recently raised $60M in series C funding led by A16z, bringing its total raised amount to $100M. This news has sparked waves of excitement in the education sector and has raised questions regarding the price of this virtual STEM Lab software.
This article will discuss the pricing of Copenhagen-Based Labster’s Virtual STEM Lab Software and its implications.
Overview of Series C Funding
Copenhagen-based Labster, which specializes in virtual STEM lab software, recently announced the impressive news of their successful Series C funding round. The investment round was led by a16z and other strategic investors, which included the Swedish private investor family William Demant Invest (WDI), Wellington Partners and BrightEye Ventures.
The new round of funding brought Labster’s total raised to $100 million and is set to help the company expand its operations throughout Europe and continue to develop new products for enhancing science education for both primary/secondary schools as well as universities.
Labster’s virtual STEM lab software provides lab simulations for educational institutions that include experiments covering key topics in biology, chemistry, physics, engineering and more. The simulations are designed to provide a realistic experience by leveraging game-design principles such as immersive environments and interactive elements that keep students engaged while they learn. Through Labster’s multiple products that range from online biology simulation modules to recruitment services for science academics, they’re aiming to bring sciences education into the 21st Century.
Impact of Series C Funding
The Copenhagen-based Labster, which sells virtual STEM lab software to educational institutions, recently announced the successful closing of their Series C round of funding led by Andreessen Horowitz or a16z. This raised $60M in capital and brings the total amount of money raised by Labster up to $100M.
This monumental feat is likely to have a far-reaching impact on the educational tech industry. The increased capacity for research and development that comes along with extra capital can open doors for innovators who may not have been able to realize their vision without such financial backing. In addition, having more resources also enables businesses to deepen their customer relationships and increase customer satisfaction because access problems can be addressed more swiftly.
Finally, having such funding will allow Labster to expand geographically with greater reach into international markets, allowing it to continue its mission of providing higher quality education worldwide.