Blue Studios Inc, a subscription-based digital education platform based in California, has received an undisclosed amount of funding from Global Millennial Capital, an emerging consumer specialist venture capital firm based in Dubai.
The investor has just announced this saying it has completed its first investment by becoming a major investor in the Silicon Valley edtech venture as part of its Millennial Consumer Innovation Fund II.
Established in 2019 by Kelley O. Cambry, an African-American woman entrepreneur, Blue Studios is a live-stream and on-demand platform, providing entertaining K-12 STEM classes for kids. It is a managed marketplace that connects families to the best STEM classes taught by the best instructors.
Blue Studios believes STEM education is the most cost-prohibitive aspect of the educational system but provides kids with the most opportunities. From coding to microbiology to botany and others, the company offers its courses at $9.99 per month for unlimited access. It offers one-on-one and group coaching sessions for an enhanced learning experience.
Commenting on the funding and its ambitions, Kelly O. Cambry, Founder of Blue Studios, said,
“We’re delighted to work with Global Millennial Capital. Our ambitions from the beginning have been to think global first. We share their passion in providing accessible, scalable opportunities to the busy, connected modern family.”
Blue Studios aims to teach 1 billion kids STEM skills globally across 100 cities and build a digital content library of 10,000 hours. The company has been previously backed by global investors such as 500 Startups and Techstars.
Highlighting its plans, Global Millennial Capital said it aims to work along with the founders of Blue Studios to support the global expansion ambitions by introducing the edtech marketplace into emerging markets and connecting them with local influencer and teacher talent, among other corporate development initiatives.
Millennial Consumer Innovation Fund II is the first B2B focused venture capital fund from the GCC region which focuses exclusively on investing in early-stage companies that are tech-enabled, consumer-focused, and very scalable globally. According to the company’s statement, the investment strategy has been conceptualized in early 2020, on the assumption that the digital sharing economy is expected to disrupt 50% of the traditional businesses by 2025 reaching US$225 billion with key verticals such as edtech, fintech, AI-consumer expected to deliver double-digit month-on-month growth.
The fund, which is managed by Global Millennial Capital, aims to provide the Arab investors with exclusive and unique investment opportunities to access the latest technologies and innovations from the global technology capital, Silicon Valley.