Immersive Labz, an EdTech company providing virtual 3D science laboratory using immersive technology, has raised $600,000 from a group of investors led by ah! Ventures.
Other investors include serial angel investors and networks, and other High Net Worth Individuals.
Founded in 2021, Immersive Labz provides virtual 3D science labs to schools, colleges, and hospitals. It offers two products: Simulab (virtual 3D science labs on mobile/PC for grades 9 to 12) and Cadaviz (human-size virtual 3D Cadaver dissection table for medical colleges).
Immersive Labz is on a mission to empower and inspire science students to learn and innovate through virtual labs and aims to make practical science learning accessible, affordable, and engaging through virtual labs. There is currently no player in the market which is providing virtual science labs in a 3D interactive simulation.
Along with Simulab for schools and colleges, Immersive has also launched an extension of Simulab’s human anatomy – Cadaviz – for medical colleges and hospitals. Medical colleges are facing a problem of severe cadaver shortage (<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 the unmet demand in the segment. Immersive has already demonstrated the ability to scale by selling a substantial number of licenses during the pilot stage itself and building a pipeline of 40,000 licenses by entering into large tie-ups. Their strong execution track record will ensure high profitability and valuations. We are excited to work with Immersive and look forward to working closely with them in the coming months."
ah! Ventures has done 130 investments in 97 startups to date, taking its total investment portfolio to INR 275 CR (~36 MN USD) with 14 exits and 28 follow on rounds. 30 investments have happened through all three platforms in 2022.