Aviation e-learning platform Aeroclass has attracted US$1.2 million in seed funding from AeroCity Tech Ventures, a venture capital investing in aviation technologies. Aeroclass is the world's first start-up to offer a modern online training platform specifically for aviation professionals.
According to the company's CEO and co-founder, Lukas Rasciauskas, Aeroclass aims to revolutionize the aviation training industry by offering aeronautical professionals high-quality training on a convenient, ‘any time, any place' platform. “The global pandemic has highlighted a long-standing problem with aviation training. The previously rigid sector was for the longest time in need of someone to come and shake the market from the ground up. That's why we are here.”
Tech start-up Aeroclass is the first to introduce a virtual learning platform focused on the aviation industry, designed for professionals to acquire and deepen their knowledge in the aviation sector. The Aeroclass head emphasizes that the uniqueness of the start-up lies in the focus on the peculiarities of the aviation business. “Until now, the main focus in the application of new technologies in aviation training has been on pilot and crew training. We, on the other hand, target the areas of aviation management, law, communication, finance, audit, and crisis management that have received less attention so far. Aeroclass training will help newcomers to the sector and professionals seeking to improve their skills to understand aviation more quickly,” he said.
Although Covid-19 has shone a light on online training, the potential of the sector had already been on the industry's radar. “Even before the pandemic, the value of the e-learning market grew steadily and in 2018 reached as much as US$100 billion. In 2020, the market doubled to US$200 billion, and it is expected that by 2027 we will have another doubling of the market value. Therefore, we have decided that now is the best time to develop online learning solutions for the aviation sector. We are pleased that the potential of this business has been noticed by the AeroCity Tech Ventures and we believe that this investment will contribute towards our rapid and successful growth,” said Rasciauskas.
According to the head of the AeroCity Tech Ventures, Julius Norkunas, who has been intrinsically involved with innovations and start-ups for many years, this investment in Aeroclass is the venture capital's contribution to the aeronautical technology revolution. “We see huge potential in the virtual training sector, so we believe this investment will help modernize the aviation tech industry. AeroCity Tech Ventures plans to invest US$20 million in new and growing companies with valuable technological and modernization ideas for the aviation sector. We believe that with our help, many industry-changing ideas will see the light of day.”
