SINGAPORE, May 11, 2022 (GLOBE NEWSWIRE) — Genius Group (NYSE American: GNS) is pleased to announce that its Singapore-based Edtech arm, GeniusU Ltd, has completed a financing round to support the development of its growth plans. Getting to know Genius Metaversity, valuing the Edtech subsidiary at $250 million.
GeniusU has attracted more than 2.8 million students and 10,300 partners to its online learning platform, offering interactive courses and assessments in entrepreneurship, investment and 21st craftsmanship of the century.
GeniusU plans to expand its courses and programs into interactive learning environments in the Metaverse, where students and educators connect and learn in global classrooms and 3D virtual environments.
It also plans to integrate each student’s AI-based “Genie” virtual assistant into the metaverse as 3D virtual assistants guiding each student through their personal journey and integrating their GEM student credits into the metaverse. Genius Education Merits (GEMs) are earned by students as they learn and can be spent on products and services within GeniusU, as well as their certifications.
A total of $1.5 million was raised to develop GeniusU’s Genius Metaversity from existing GeniusU Ltd investors who purchased new GeniusU Ltd common stock for $24.39 per share, valuing GeniusU at $250 million dollars. Genius Group Ltd is the majority shareholder of GeniusU with an approximately 97% stake in GeniusU Ltd. Both are publicly traded companies based in Singapore, with Genius Group being a publicly traded company on the NYSE American (NYSE American: “GNS”).
Genius Group CEO Roger James Hamilton said: “Our mission is to develop an entrepreneurship education system that prepares students for the 21st century. We believe that Web3 and the Metaverse provide an enhanced way for students and educators to communicate and learn in a global classroom. Our plan is to develop a blended, real, online and virtual learning solution to gamify learning and make it much more engaging and fun, collaborating with real-time students around the world.
The funding round was opened in February 2022 and completed in May 2022. It comes after Genius Group’s campus subsidiary, Entrepreneur Resorts, raised $0.9 million from existing Entrepreneur Resorts investors by purchasing new Entrepreneur Resorts common stock in December 2021. at $2.75 per share, valued at $2.75 per share. Entrepreneur Resorts for $38 million. Entrepreneur Resorts Ltd is a publicly traded company on the Seychelles Stock Exchange (MERJ:ERL). Genius Group Ltd is also the majority shareholder of Entrepreneur Resorts with approximately 95% stake in the company.
The money raised for Entrepreneur Resorts will fund the launch of a Genius Central co-working and co-learning campus in Santa Monica, Los Angeles. In this place, students can discover Genius Metaversity on the spot.
About Genius Group
Genius Group is a global leader in information technology and education whose mission is to disrupt the current education model with a lifelong learning program that prepares students for the leadership, entrepreneurship and life skills necessary to succeed in today’s marketplace. The group has more than 2.8 million students in 200 countries, aged 0-100. The Group consists of four pre-IPO companies (the “Pre-IPO Group”) and will include four companies that will be acquired on or shortly after the closing of the Company’s IPO in April 2022 (the “IPO Acquisitions “). Two of these four IPO acquisitions, Education Angels and Property Investors Network, have already been completed.
Our pre-IPO group’s entrepreneurial training system was delivered virtually and in person, in multiple languages, locally and globally, primarily through the custom-built, artificial intelligence (AI)-powered GeniusU Edtech platform. to develop their entrepreneurial and leadership skills.
The pre-IPO group includes Genius Group, GeniusU, Entrepreneurs Institute and Entrepreneur Resorts. This group of entrepreneurial training companies has grown through organic growth and acquisitions, with a focus on adding value to any business through GeniusU, which is being developed to provide recommendations and personalized AI-based advice to each student. The pre-IPO group is now expanding its education system to age groups beyond the current adult audience, to children and young adults. The four IPO acquisitions will be the first steps in this direction. These include: Education Angels, which provides early learning in New Zealand for children aged 0-5; E-Square, which provides primary and secondary education in South Africa; Antelope Valley University, which grants professional certifications and college degrees in California, USA; and Property Investors Network, which offers courses and events on property investment in England.
Genius Group’s current plan is to combine the education programs of the IPO acquisitions with the current education programs and the Edtech platform under a lifelong learning system, and it has selected these acquisitions because they already share aspects of the Genius program and the focus on the 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 Company’s control, 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 assumes 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.