Denmark-based laboratory simulation technology developer Labster extended a series C round that includes telecommunications company Swisscom to $107m yesterday with a $47m second tranche.
The extra capital was provided by Sofina Group, Pirate Impact, Andreessen Horowitz, Owl Ventures, EduCapital, GGV Capital and NPF Technologies and it brings Labster’s total funding to $147m.
Swisscom took part in the $60m first close in February 2021 through its corporate venturing unit, Swisscom Ventures. It was led by Andreessen Horowitz and included GGV Capital, Owl Ventures, Balderton Capital, Northzone, EduCapital and private investor David Helgason.
Founded in 2011, Labster provides software that allows users to take part in interactive virtual simulations of laboratory experiments for educational purposes.
The funding will be used to fuel expansion plans which include an expansion into Asia and South America and the growth of the company’s engineering, sales, product and customer access teams, as well as that of its simulation repository.
The corporate had also previously backed an Owl Ventures-backed $21m series B round in 2019 together with Balderton, EduCapital, Helgason, Entangled Group, Northzone and Nordic Makers that boosted Labster’s overall funding to $35m.
GGV Capital subsequently led a $9m round for the company in August 2020 that also featured Owl Ventures, Balderton Capital and Northzone.
Michael Bodekaer Jensen, co-founder and chief executive of Labster, said: “This additional funding will help us to continue growing our support for a broader group of students, teachers and educational institutions around the world to make our mission a reality.
“There has been a fundamental change in the nature of education over the last two years that confirms the high value and impact on student engagement and learning outcomes of virtual educational simulations offered in tandem with in-person, teacher-led coursework in a post-pandemic world.”
Photo courtesy of Labster, ApS.
