Key Capital Partners has backed Avantis Systems, an educational virtual-reality start-up, with a £4.25 million investment, acquiring a minority stake in the business.
Avantis said it will use the funds to accelerate investment in its growing overseas distribution model and product development “to maintain its leading position” in the market.
Avantis Systems, which launched in 2007, has seen a spike in demand over the past three years, with its virtual-reality software now deployed in more than 3,000 schools around the world. Over 80% of the company’s sales are made overseas, including in the US, Asia, Europe and Latin America.
Owen Trotter, managing partner at Key Capital Partners, who led the investment team alongside James Excell and Matt Tice, will join the board of Avantis, alongside the company’s chief executive Nik Tuson.
Trotter said: “The team at Avantis has done a fantastic job in creating a product which adds real value in the classroom. Our research confirmed the huge potential for the business to grow rapidly over the next few years.”
Date published: 11 September 2020