Labster will use the funding to expand its operations globally and hire more talent. Here are the top-line bullets you need to know.
Labster, a virtual lab developer, has raised $47M in an extended Series C. The round drew participation from Sofina Group, Balderton Capital, Owl Ventures, GGV Capital, and Andreessen Horowitz, among others.
Want to learn more about VC activity in 2022? Check out our State of Venture Q1’22 Report.
How’s the company performing?
- Denmark-based Labster enables students to conduct lab experiments in an immersive, virtual environment.
- The company caters to more than 3K universities and educational institutions — including Taylor’s University, University of Essex, and Arizona State University — across 70+ countries.
- It has served more than 5M students since its launch.
- Labster is currently supported by a team of over 350 employees.
Source: Labster
Why does the market matter?
- The education technology market is expected to reach a value of $377.9B by 2028, growing at a CAGR of 19.9%, according to Grand View Research.
- Edtech solutions are increasingly being adopted to lower content production costs and increase geographical reach.
- The demand for virtual programming and online education has increased amid the pandemic, driving market growth.
