Investment in MEL Science
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
(Computershare - Company Secretary)
Strand Hanson Limited
+44 (0)20 7409 3494
Claire Louise Noyce
+44 20 3764 2341
+44 20 7638 3435
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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