Labster secures $60 million Series C led by Andreessen Horowitz

Labster, a Copenhagen-based developer of virtual science laboratory simulations, has raised $60 million in a Series C funding round led by Andreessen Horowitz. The round was reported on February 10, 2021.

GGV Capital, Owl Ventures and Balderton Capital also participated, taking the total raised by the company to $100 million. Labster said it would use the capital to hire staff, expand into Latin America and Africa, and invest in product development for teachers, including a dashboard called Labster Portal. It also plans to pursue partnerships at the level of countries, states and school districts. The chief executive indicated that the valuation had risen sharply with the round but remained below $1 billion.

Labster's software lets students carry out simulated laboratory experiments on a computer. At the time of the round its simulations were used by more than 2,000 colleges, universities and high schools, and the company had recently signed a contract with California's community college network covering more than 2.1 million students. Management has set a goal of serving 100 million students within a few years and of developing the product from a content library into a customizable platform for immersive learning.