Copenhagenbased labster stem 60m 100mmascarenhastechcrunch is an initiative that leverages the power of virtual reality (VR) and game-based learning to transform science education. Started in 2012, this Copenhagen based company has made great strides in delivering STEM (Science, Technology, Engineering, and Mathematics) excellence to students around the world. As a result, Labster has attracted attention from investors and recently raised a whopping $60 million in Series B funding, with participation from Danish investment group Cresco and American venture firm, Technology Crossover Ventures (TCV). With the fresh influx of cash, Labster plans to broaden its STEM offering, expand customer reach and further its key initiatives.
Mission-based Learning and Gamification
The company’s goal is to make science education more engaging, accessible and impactful. To achieve this, they have adopted a mission-based, story-driven approach to learning, where students are put in an immersive virtual world and tasked with solving realistic and complex scientific problems. The ‘lab simulations’, as they call them, bring together real science and technology with the interactivity of gaming and can be used across platforms and devices, from mobile phones and tablets to desktop computers.
In lab simulations, students are presented with simulated scientific instruments and other resources that help them to experience the lab environment. They can gauge their performance using real-time feedback, and critically think and make decisions in order to make progress. Ultimately, this method of gamified learning enables students to foster deep understanding of a specific concept, rather than just passively consuming information.
Integrations with Learning Management Systems
In addition to improving the educational experience for students, Labster has also developed integrations with leading learning management systems (LMS). This enable LMSs such as Blackboard and Moodle to incorporate the Labster simulations into their teaching and assessment strategies – providing students with a much richer and enjoyable learning experience.
Funding and Expansion
Labster’s successful series B funding round has enabled the company to further its goal of making science education more accessible and engage. The $60 million in funding will go towards expanding the existing virtual lab simulations, developing new ones and enhancing the overall user experience. Labster is also expanding its team and will be looking to form new partnerships and collaborations, in order to reach the widest possible audience of students. The company’s platform is currently used in over 400 higher and high schools institutions in over 70 countries.
Series B Investment-Led Growth
Copenhagen-based Labster hit an ambitious target earlier this month, closing a $60 million Series B funding round led by Danish investor Cresco IVS and US investor Tech Crossover Ventures. The new investment is set to be used to help Labster’s scale its current virtual labs and create exciting new ones. This funding round marks a huge success for Labster, showing that its mission-based, story-driven approach to science education has caught the attention of some of the biggest names in the venture capital space.
Conclusion
With a fresh influx of funding and ambitious plans for expansion, the future looks bright for Labster and its mission-based approach to science education. Thanks to this series B funding round and the investment that Cresco IVS and TCV have placed in the company, Labster is well positioned to take science education to the next level.
