Lisbon, April 18, 2023 - Miles in the Sky, a Portuguese EdTech startup whose mission is to transform the learning experience for students and professionals, has secured a €1.5 million seed investment round led by Armilar.
According to a McKinsey study, 87% of organisations worldwide face key skills shortages within their workforce. However, commonly used learning models do not address this problem. While the traditional classroom method has limited capacity and lacks scalability, online courses often prove insufficient regarding participant engagement and knowledge retention.
Miles in the Sky responds to this market need created by the constant evolution of organisations and their respective sectors, addressing the growing knowledge gap that was felt first-hand by its founders, throughout their careers in large organisations, technology companies and renowned universities in Portugal.
By combining the latest trends in pedagogy and technology with human support, the Portuguese startup is building a learning experience that combines the interaction and collaboration characteristic of face-to-face teaching with the interactivity and scalability provided by the digital model. The "learning-by-doing" interactive approach that inspires Miles is proven to be six times more effective than traditional online courses.
The capital raised will accelerate the development of the platform so that this new methodology can be used at scale.
"This investment serves as a catalyst for us to bring advanced technology and engaging experiences to organisations that will change the future of education and training," says Paulo Silva, CEO of Miles in the Sky. "We're delighted to have the support of Armilar and 3 other investors to help accelerate the development of our unique learning platform.”
"Delivering effective training at scale is a growing worldwide problem. Online courses have, so far, fallen short in engaging students and driving meaningful learning outcomes. The traditional classroom model, on the other hand, is not scalable. We believe that Miles in the sky has cracked the code on effective online education through their innovative learning model and platform, which provides an effective learning experience at scale. We are thrilled to support Paulo, Francisco, Pedro, Ricardo and Luís in their goal to enable corporates and educational institutions to provide engaging and effective training," says Joaquim Sérvulo Rodrigues, Partner at Armilar.
Founded at the end of 2021, Miles in the Sky is developing projects with some of Portugal's largest companies (e.g., banks), schools, and public and social entities in areas such as digital literacy and programming fundamentals for data analysis. Additionally, in a partnership with OutSystems, it launched a programme for companies to train low-code programmers.
Miles in the Sky's platform will provide organisations with a more robust learning environment to train students and professionals, accelerating talent development to address the growing global skills gap.
About Miles in the Sky:
Lisbon-based startup Miles in the Sky is a pioneering EdTech company dedicated to transforming learning through a unique, digital yet human-led learning model. Miles in the Sky provides customised, engaging and effective learning experiences that enable organisations - from schools to businesses - to close skills gaps, scale delivery and increase engagement.
The Portuguese startup is already a trusted partner for over500 learners from enterprises, public entities, schools and universities worldwide. With more than 25 employees and growing, Miles in the Sky is committed to shaping the future of learning. To discover more about Miles in the Sky, visit www.milesinthesky.education.
Armilar is Portugal's leading VC funds manager. An independent VC with a history of more than 20 years, a high-performance track record and an international footprint, with a focus on early-stage technology-based companies where data, digitisation and connectivity play a central role.
The Armilar Venture Partners TechTransfer Fund is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing. The fund is also co-financed by Fundo deCapital e Quase Capital (FC&QC), managed by Banco Português de Fomento, S.A.