SAM Labs, an edtech company based in London, has raised £5.1 million in a Series A round led by Touchstone Innovations and E15 Ventures.
The company builds tools for teaching computing and STEAM (science, technology, engineering, the arts and mathematics) and will use the funds for further product development. The edtech market is tipped to be worth $252 billion by 2020, according to the company.
“This round of funding will increase our time spent working closely with teachers, administrators, and standards like NGSS to develop the most engaging teaching materials, hardware, and software to excite students about the possibilities of STEAM,” said Joachim Horn, CEO of SAM Labs.
The startup’s STEAM Kit provides tools for teachers to cover computer science and coding in their curriculum, especially in cases where schools have not received formal training and resources.
Schools are expected to become technology-minded, commented Nate Gordon, a coordinator at Bullis School in Potomac, Maryland, a school that uses SAM Labs products.
“But the reality is, training and classroom resources are often lacking. SAM Labs is a solution for teaching computer science across a variety of subjects,” he said. “With the STEAM Kit, I know that I’m properly conveying lessons to my students – who will rely on this knowledge as they move forward in their education and career paths.”
SAM Labs has partnerships in place with governments and company initiatives such as the City of Helsinki, the UAE Ministry of Education, Microsoft Education, and Intel Education.
“With an increasing demand for quality resources to teach coding and computer science, the importance of products like SAM Labs’ STEAM Kit is magnified, and additional funds to support SAM Labs’ education program will only help increase its impact worldwide,” added Elizabeth Broers, global program director of the Intel Education Accelerator.