The aim of the planned partnership is to start up a pilot project initially targeting 1000 Indian schools and later include up to 3000 more Indian schools and implement a variety of products from the growing Shape Robotics portfolio into the vast Indian education system.

"We are thrilled to announce a significant milestone in our journey, a highly synergistic partnership with PM Publishers in India. This collaboration not only ensures a swift market entry for Shape Robotics but also aligns us with a reputable and seasoned local ally. Our sales team's dedication over the past four months, in close coordination with PM Publishers, has borne fruit with the receipt of a Letter of Intent. This gesture signifies their keen interest in reselling and integrating our innovative robot, Fable, into their educational offerings. We are deeply honored by the prospect of our technology playing a pivotal role in enhancing the STEAM skills of countless young Indian students. This development not only empowers these students to excel in their personal endeavors but also contributes to the flourishing of India as a nation" says CEO, Mark Abraham.

India's already allocated national educational budget for 2024/25 is set to 13 billion euros covering a total 1,45 million schools (54% government owned, 34% private owned and 10% schools for specially aided students).

Potential of 4000 Indian schools

The expected order from PMP for 2024 is 1000 bundles with a total value of 1.3 M EUR, ordered and paid in two parts. The first part as soon as Shape Robotics and PM Publishing signs a formal agreement and the second part in in October or November 2024, followed by implementation starting up in December 2024 timed with the opening of the annually cyclical investment window.

If successful, a further potential of 3000 more schools in the PM Publishers network could join the project at a total value worth 3.9M Euro for 2025-2026 further extending the penetration of one of the top three global Edtech markets.

"We have signed an agreement with Danish-Indian consulting company Cobo Consult, thereby building on services co-financed by Danish Government. In the end of May our CTO and top sales representatives will visit Mumbai and Bengaluru to meet with key stakeholders and potential distributors or resellers, they will visit key schools and the publishing companies that are central in the Indian market and also meet with NGOs and G level organizations," says CEO Mark Abraham.

In 2024 Shape Robotics aims to appoint one or more master distributor(s) and a number of resellers in India to allow the company to deploy a wider sales campaign in India in 2025 and the years to come.

Promising Romanian tenders

Together with Romanian partner and national retailer Altex, Shape Robotics is bidding with a rating of 100 out of 100 on a tender in Sibiu Municipality with a total value of 450.000 Euro.

Shape Robotics expects the tender to be formally awarded soon and result in the delivery of 340 IDBs, bundled with Fable Hub and Fable Blockly, Laptops, Graphic tablets, AV products and multimedia peripherals to create digital content in the classrooms.

Also in Sibiu Municipality, Shape Robotics together with local partner Data Hub, will join a tender as the only bidder with an expected revenue of 2 million euro.

Shape Robotics will deliver and install 940 units of 75" IDBs, bundled with Fable Hub and Fable Blockly, AV systems, graphic tablets and digital scanners for the classrooms.

Further information and investor relations:

Mark Abraham, CEO:
Telephone: +45 31 65 64 50
Email: mark@shaperobotics.com

Communication and PR:
Gullev & Co. ApS
www.gullev.co
Boris Gullev
Tel: +45 31 39 79 99
E-mail: borisgullev@gmail.com