Genius Group’s Edtech arm GeniusU closes Metaverse round at US$250 million valuation
SINGAPORE, May 11, 2022 (GLOBE NEWSWIRE) -- Genius Group (NYSE American: GNS) is pleased to announce that it’s Edtech arm, Singapore based GeniusU Ltd, has completed a seed round to support the development of its Genius Metaversity virtual learning plans, valuing the Edtech subsidiary at $250 million.
GeniusU has attracted over 2.8 million students and 10,300 partners to its online learning platform, delivering interactive courses and assessments in entrepreneurship, investing and 21st century skills.
GeniusU plans to extend its courses and programs to interactive learning environments in the metaverse, with students and faculty connecting and learning in global classrooms and virtual 3D environments.
It also plans to integrate each student’s AI-based virtual assistant ‘Genie’ into the metaverse as 3D virtual assistants that accompany each student on their personalized journey and integrate its GEMs student credits into the metaverse. GEMs (Genius Education Merits) are earned by student as they learn and can be spent on products and services within GeniusU as well as counting towards their certifications.
A total of $1.5 million was raised towards the development of GeniusU’s Genius Metaversity from existing GeniusU Ltd investors purchasing new ordinary shares of GeniusU Ltd at $24.39 per share, valuing GeniusU at $250 million. Genius Group Ltd is the majority owner of GeniusU with approximately 97% ownership of GeniusU Ltd. Both are Singapore-based public companies, with Genius Group being a publicly listed company on the NYSE American (NYSE American: “GNS”).
Genius Group CEO, Roger James Hamilton commented: “Our mission is to develop an entrepreneur education system that prepares students for the 21st century. We believe Web3 and the Metaverse provides students and teachers with an enhanced way to interact and learn in a global classroom. Our plan is to develop a blended solution of real-life, online and virtual learning to gamify learning and make it far more engaging and fun, working with students in real time around the world.”
The funding round was opened in February 2022 and completed in May 2022. It comes after the campus subsidiary of Genius Group, Entrepreneur Resorts, raised $0.9 million from existing Entrepreneur Resorts investors purchasing new ordinary shares in Entrepreneur Resorts in December 2021 at $2.75 per share, valuing Entrepreneur Resorts at $38 million. Entrepreneur Resorts Ltd is a public company listed on the Seychelles Stock Exchange (MERJ: ERL). Genius Group Ltd is also the majority owner of Entrepreneur Resorts with approximately 95% ownership of the company.
The funds raised for Entrepreneur Resorts are to fund the launch of a Genius Central co-working and co-learning campus in Santa Monica, Los Angeles. This venue will enable students to experience Genius Metaversity on location.
About Genius Group
Genius Group is a world-leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed in today’s market. The group has over 2.8 million students in 200 countries, ranging from ages 0 to 100. The group includes four pre-IPO companies (the “Pre-IPO Group”), and will include four companies intended to be acquired at the time of, or soon after, the closing of the company’s initial public offering in April 2022 (the “IPO Acquisitions”). Two of these four IPO Acquisitions, Education Angels and Property Investors Network, have already been consummated.
The entrepreneur education system of our Pre-IPO Group has been delivered virtually and in-person, in multiple languages, locally and globally mainly via the Pre-IPO Group’s artificial intelligence (AI)-powered, personalized GeniusU Edtech platform to adults seeking to grow their entrepreneur and leadership skills.
The Pre-IPO Group includes Genius Group, GeniusU, Entrepreneurs Institute and Entrepreneur Resorts. This group of entrepreneur education companies has grown through organic growth and acquisitions, with a focus on adding value to each company through GeniusU, which is being developed to provide AI-driven personal recommendations and guidance for each student. The Pre-IPO Group is now expanding its education system to age groups beyond its current adult audience, to children and young adults. The four IPO Acquisitions will be the first steps towards this. They will include: Education Angels, which provides early learning in New Zealand for children from 0-5 years old; E-Square, which provides primary and secondary school education in South Africa; University of Antelope Valley, which provides vocational certifications and university degrees in California, USA; and Property Investors Network, which provides property investment courses and events in England.
Genius Group’s current plan is to combine the education programs of the IPO Acquisitions with its current education programs and Edtech platform as part of one lifelong learning system, and it has selected these acquisitions because they already share aspects of the Genius curriculum and its focus on entrepreneur education.
This press release contains statements that constitute “forward-looking statements”. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s final prospectus for its initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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Source: Genius Group Ltd
Released May 11, 2022