Avantis Systems secures £4.3m from Key Capital Partners for international expansion and product development
Key Capital Partners has taken a minority stake in the educational virtual reality business.
Gloucester-based Avantis Systems develops educational virtual reality solutions, notably through its ClassVR hardware and software platform used in schools globally.
Avantis Systems has secured £4.3m in growth private equity investment from Key Capital Partners. The funds will be deployed to accelerate the company international distribution model and further product development efforts.
Founded in 2007, Avantis has experienced rapid international growth following the launch of its ClassVR system in 2017, with products now deployed in over 3,000 schools across more than 60 countries. Following the transaction, Key Capital Partners acquires a significant minority stake in the business.
Owen Trotter of Key Capital Partners joins the board alongside James Excell, Matt Tice, and new Non-Executive Chairman Andy McEwan. Existing company leaders Nik Tuson, Rupert Rawnsley, and Huw Williams remain on the board.
From the founder
"We have had phenomenal success with ClassVR and the investment from KCP will help us to firmly establish Avantis as the premier provider of VR and AR technology in the classroom. We selected KCP as our partner based on their speed of response, understanding of our ethos and their shared vision of what VR can achieve as a classroom tool."
Nik Tuson
CEO at Avantis Systems
Investor perspective
"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 and I look forward to working with Nik and the team to turn this into reality."
Owen Trotter
Managing Partner, Key Capital Partners
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
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About the company
Avantis Systems
Avantis Systems creates educational virtual reality hardware and software for classrooms.