TMT Investments PLC Investment in MEL Science (0683R)
26 February 2019 - 6:01PM
UK Regulatory
TIDMTMT
RNS Number : 0683R
TMT Investments PLC
26 February 2019
26 February 2019
TMT INVESTMENTS PLC
("TMT" or the "Company")
Investment in MEL Science
TMT Investments PLC (AIM: TMT.L), the venture capital company
investing in high-growth technology companies, is pleased to
announce an investment of US$2 million in MEL Science Limited ("MEL
Science") (https://melscience.com) as part of a wider funding
round.
MEL Science is a London-based education technology company that
has developed a platform for next-generation science lessons
combining VR/AR interactive visual lessons with hands-on
experiments. MEL Science's first product, MEL Chemistry, is a B2C
subscription service, which combines physical kits for science
experiments with a VR mode-equipped iOS & Android App, and is
available in more than 30 countries.
Incorporated in the UK, MEL Science already provides MEL
Chemistry to thousands of users in the USA and Europe in both the
B2C and B2B sectors. The B2C range provides science sets on a
subscription model with an app that allows the user to experience
the science behind the experiments in VR, increasing learning and
motivation in children through an immersive experience whilst
allowing parents and children to spend quality time together. The
B2B product for schools comprises high-quality education programmes
for children by providing fundamental understanding (instead of
just memorising) using simulation engine and molecular-level
experiments.
The funds raised in this round will be used by MEL Science to
expand into new science subjects and scale up sales in existing and
new countries.
EdTechXGlobal and IBIS Capital project that the global education
technology (EdTech) market will grow 17% per annum to US$252
billion by 2020, with the Asian market being a key driver of this
growth. As access to the internet in China continues to expand,
with over 55% of China's population now online equating to
approximately 770 million Chinese internet users, IBIS Capital also
projects that after-school tutoring in China will grow from US$50
billion to US$90 billion by 2020.
Alexander Selegenev, Executive Director of TMT, said: "This is
TMT's first investment into a UK company. The UK EdTech sector has
a global reputation for innovation and providing high quality
learning solutions, and we are delighted to back London-based MEL
Science as it continues to scale up its product range globally. We
have substantial experience in investing in subscription-based
companies and are very pleased to have identified this investment
opportunity, which combines this model with some of the best EdTech
innovations on the market".
Alexander Selegenev added: "The EdTech market is growing
strongly worldwide. As the computerisation of schools continues to
progress rapidly, there is an increasing demand for high quality
educational content. We believe that MEL Science is able to take
advantage of this growth and has validated its business model by
already selling to over 30 countries including the fast-growing
Asian markets".
Vassili Philippov, CEO of MEL Science, said: "The best way to
learn science is to combine theory with a hands-on approach. Real
learning is understanding fundamental processes, rather than
cramming yourself with isolated pieces of knowledge. Our immersive
VR and AR products are designed to do exactly that".
For further information contact:
TMT Investments PLC +44 (0)1534 281 800
Alexander Selegenev (Computershare - Company Secretary)
Executive Director
www.tmtinvestments.com alexander.selegenev@tmtinvestments.com
Strand Hanson Limited
(Nominated Adviser)
Richard Tulloch
James Dance
Eric Allan +44 (0)20 7409 3494
Hybridan LLP
(Broker)
Claire Louise Noyce +44 20 3764 2341
Kinlan Communications +44 20 7638 3435
David Hothersall davidh@kinlan.net
About TMT Investments PLC
TMT Investments PLC invests in high-growth technology companies
across a number of core specialist sectors and has a significant
number of Silicon Valley investments in its portfolio. Founded in
2010, TMT has invested in over 45 companies to date and has latest
announced net assets of US$82 million. The Company's objective is
to generate an attractive rate of return for shareholders,
predominantly through capital appreciation. The Company is traded
on the AIM market of the London Stock Exchange.
www.tmtinvestments.com.
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END
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