Immersive Labz, an EdTech enterprise supplying digital 3D science laboratory using immersive technology, has lifted $600,000 from a team of investors led by ah! Ventures.
Other investors include things like serial angel buyers and networks, and other Significant Web Truly worth People today.
Launched in 2021, Immersive Labz presents digital 3D science labs to universities, colleges, and hospitals. It delivers two products and solutions: Simulab (virtual 3D science labs on cell/Computer for grades 9 to 12) and Cadaviz (human-sizing virtual 3D Cadaver dissection desk for professional medical schools).
Immersive Labz is on a mission to empower and inspire science college students to find out and innovate by virtual labs and aims to make functional science mastering accessible, very affordable, and participating through virtual labs. There is presently no player in the industry which is providing virtual science labs in a 3D interactive simulation.
Along with Simulab for educational institutions and faculties, Immersive has also introduced an extension of Simulab’s human anatomy – Cadaviz – for clinical schools and hospitals. Health-related schools are facing a challenge of intense cadaver scarcity (<10% availability of required cadavers) for human anatomy study for MBBS students. The grave situation is leading to many sub-optimal choices by medical colleges like procurement of human anatomy videos at extremely high prices. Given this market situation, Cadaviz (an interactive virtual human dissection table) has got a big acceptance in the market.
On how he started his journey, Navin Mandal, Co-founder of Immersive Labz, said,
“Having built high quality AR/VR products for large corporations, I could understand the power of technology in solving difficult problems at scale. Having personally experienced the problems in science practical learnings, I always knew that a gamified virtual lab can address the problem of engagement and accessibility (at 1/10th the cost of physical lab). Acting on our long-held belief, we started Immersive Labz when there is a clear trend towards mass adoption of virtual teaching methods.”
Immersive claims to have sold 1,600 licenses to colleges in Pune (on a pilot basis alone) and entered into an agreement for 40,000 licenses with two large chains of education institutes (with more than 45 and 17 centres respectively). In the next 12 months, it aims to sell 1.25 lakh licenses and generate revenue of more than Rs 20 crore.
Amit Kumar, Senior Partner – ah! Ventures, said,
“Practical science education is considered one of the biggest challenges across the world. This problem is even more pronounced in India where more than 90% of science students don’t have labs access. And paltry 10%, who have find it unengaging. I liked the way Immersive is addressing both through their tech product which is not only of very high quality (true to life lab experience) but also very engaging. The strong traction of the product is a testimony of the product quality.”
Abhijeet Kumar, Co-Founding Partner – ah! Ventures, added,
“We have recently witnessed an accelerated shift towards the use of technology in education due to COVID-19. However, the usage of technology for practical science education has still a long way to go. Immersive as the early mover in the market has the potential to quickly scale the business to meet up with the unmet demand from customers in the section. Immersive has already shown the capability to scale by selling a considerable number of licenses all through the pilot phase alone and creating a pipeline of 40,000 licenses by moving into into significant tie-ups. Their sturdy execution track report will assure large profitability and valuations. We are psyched to do the job with Immersive and seem ahead to operating closely with them in the coming months.”
ah! Ventures has accomplished 130 investments in 97 startups to day, using its whole financial commitment portfolio to INR 275 CR (~36 MN USD) with 14 exits and 28 adhere to on rounds. 30 investments have transpired by means of all a few platforms in 2022.
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