26th Feb 2019 13:49
LONDON (Alliance News) - TMT Investments PLC said Tuesday that it has invested USD2 million in London-based education technology company MEL Science Ltd as part of a wider funding round.
MEL Science has developed a platform for next-generation science lessons combining interactive visual lessons with hands-on experiments. MEL Science's first product, MEL Chemistry, is a business to consumer subscription service, which combines physical kits for science experiments with a virtual reality mode.
The venture capital company said the funds raised by MEL Science will be used to expand into new science subjects and scale up sales in existing and new countries.
TMT Executive Director Alexander Selegenev said: "This is TMT's first investment into a UK company. 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".
Shares in TMT Investments were untraded at USD3.62 per share on Tuesday.
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