MEL Science, a London-based, science-focussed EdTech platform, today announces that it has secured $14m (£10.5m) in Series B funding.
The firm offers educational kits, combining hands-on experiments with interactive VR simulations and live lessons. Its products are designed for children aged 5 – 14 and are intended to be used either as an at-home teaching aid or by schools.
It claims its VR technology has been found to improve both test-scores and student engagement levels in a study by the New Jersey Institute of Technology.
Its products have won the BETT “Innovator of the Year 2020” award, EdTech Digest’s Cool Tool Award for “Best VR/AR Solution” (part of its EdTech Awards, 2020), and the VR Award’s 2020 Education and Training award.
International investors in this latest round include Mubadala Investment Company, Channel 4 Ventures and other entities from Europe and China.
This funding will be used to develop its product offering and expand into new territories. In addition, it will support the increase in enquires it has seen in 2020.
Vassili Philippov, Founder and CEO of MEL Science, said: “As demand for home education resources continues to increase, it provides a way to help parents fill the role of teachers during periods of classroom closures, and continually fuel their kids’ curiosity for, and interest in, subjects that are often difficult to grasp.”
“We have found investors that are as passionate about education as we are – who believe we have created a fantastic product that is both entertaining and educational. They have a wealth of experience and connections which, combined with their financial stimulus, will help MEL Science to realise its expansion and development ambitions.”
Since starting in 2015, the company has increased its range – adding a MEL Physics kit and a MEL Kids STEM kit, specially designed for children aged 5 – 10, to its original MEL Chemistry offering.
Vinay Solanki, Head of Channel 4 Ventures, added: “Channel 4 Ventures is absolutely delighted to be investing in MEL Science, which is our first EdTech investment.
“Channel 4’s audience aligns perfectly with aspirational families and we are excited to be raising awareness of MEL Science at this crucial phase in their development.”