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Andreessen Horowitz-backed virtual learning startup Labster just raised $47 million with this 13-slide pitch deck
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- Labster has just raised $47 million in a round led by Sofina and Pirate Impact.
- The A16z-backed startup acts as a “flight simulator for science education.”
- We got an exclusive look at the 13-slide pitch deck Labster used to raise the cash.
A startup that enables science students to learn in virtual labs just raised $47 million in a round led by Belgian investors Sofina with backing from US tech investing giant Andreessen Horowitz.
Copenhagen-based Labster offers schools access to lab experiments as well as interactive lessons in the hope of acting as a “flight simulator for science education.” The edtech firm grants teachers access to a catalog of interactive materials and environments, including planet surfaces and gamified stories to make lessons more engaging.
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“Students can go with their teachers on different field trips, where they can bring these virtual samples back to a virtual laboratory and apply their science skills to solve real-world problems such as global warming or energy crises,” Michael Bodekaer Jensen, Labster founder and CEO said.
Institutions and government organizations can register on a semesterly or annual basis, giving them access to Labster’s entire virtual infrastructure. Over 3,000 institutions currently use the platform with the startup aiming to hit 100 million students globally.
Labster isn’t a substitute for in-person teaching but offers a move towards a hybrid model of digital learning that’s more efficient and engaging for students. A key aim of the platform is to give schools an opportunity to reduce their spending on physical infrastructure so they can better allocate these resources to students.
“Governments already spend hundreds of thousands of dollars on physical campuses and labs,” Jensen said. “But we can build a complementary virtual one where they can prepare the students better.”
The round was led by Brussels-based private equity firm Sofina, a backer of delivery startup Gorillas and e-commerce unicorn Vinted, and Berlin-based impact investing firm Pirate Impact. US investor Andreessen Horowitz, which has previously backed Twitter, gaming platform Roblox, and home rental marketplace Airbnb, and Owl Ventures, which has invested in education startups Quizlet and Fiveable, also joined the round.
The deal brings Labster’s total funding raised to date up to $147 million.
“It was exciting to navigate the fundraising environment as we got so much interest from passionate investors, who not only see the business cause but the impact we have on students,” Jensen added.
“Talking with potential investors, especially those with a global and impact perspective, they saw an opportunity for us to expand this vision and into broader markets — especially in Latin America and Asia.”
Check out the 13-slide pitch deck it used to raise the fresh funds.
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