Magicbit, an easy-to-use STEM education platform, has raised USD 120,000 in its pre-seed financing round led by Sri Lanka’s Angel Fund. Magicbit allows students as young as 10-years to build inventions using technologies such as IoT, robotics, programing, electronics and AI.
With the support of the Angel Fund and the funding raised, the Magicbit team plans to take their award-winning platform to global markets. The platform recently concluded a successful Kickstarter campaign that reached customers in over 30 countries. The campaign reached its original goal in under four hours and netted more than USD 30,000.
According to Magicbit Co-Founder and CEO Migara Amithodhana, “Magicbit›s purpose is to make STEM education easy, accessible and affordable to kids around the world. We aim to fill the gap created by BBC micro:bit and Raspberry Pi. We have created the hardware, software, mobile app and free content forming an innovative ecosystem. Furthermore, we have built a community of over 5,000 STEM enthusiasts. With Magicbit, a 10-year-old can create an IoT project in under 10 mins.”
Recently, Magicbit was one of three local startups who were awarded a sponsored eight-week program to explore European markets from Berlin at the AsiaBerlin Summit 2021.
This funding round also saw participation from Hyperion Ventures and Avarna Ventures along with five angel investors including Chief Revenue Officer, WSO2, Devaka Randeniya; CTO, 99x, Hasith Yaggahavita; Founder and CEO, 99x, Mano Sekaram; Founder and CEO, Enterprise Machine Learning, Dr. Romesh Ranawana and Head of Operations, Siden, Roshan Rajappa.