Amazon Partners With RoboGroup to Offer Remote STEM Courses for Children and Youth
The program is aimed at underprivileged populations and is meant to promote learning among students who are missing school due to the coronavirus lockdown
Sophie Shulman | 11:30, 23.03.20
Retail giant Amazon has partnered with Tel Aviv-listed company RoboGroup T.E.K. Ltd. to offer elementary schools, middle schools, and high schools in the U.S. free remote classes in science, technology, engineering, and mathematics (STEM), RoboGroup announced in a filing Sunday.
Amazon will pay for the courses, developed by RoboGroup subsidiary Coderz Technologies Ltd., based on the number of participants. The program is offered to underprivileged populations and is meant to help promote STEM learning among children and youth who are missing school due to the coronavirus (Covid-19) lockdown, RoboGroup said in a statement.
Founded in 1982 and based in central Israeli town Rosh HaAyin, RoboGroup operates in the fields of robotics, remote learning, and vocational training in STEM.
For the first six months of 2019, RoboGroup reported revenue of NIS 12.5 million (approximately $3.4 million) of which only $100,000 came from its remote learning venture Coderz. The company reported an operating loss of NIS 9.27 million (approximately $2.5 million) for the period.
Following its announcement of the partnership with Amazon, RoboGroup’s stock jumped nearly 60% to NIS 2.08 (approximately $0.56) per share, bringing it to a market capitalization of NIS 85.5 million (approximately $23 million) on market close Sunday.
