Elice Inc. (“Elice”), South Korea’s upcoming AI-powered educational platform company, has raised a KRW 20B (approximately USD 14.9M) Series C round. The new funding is led by Vertex Growth, a growth-stage venture capital fund anchored by Vertex Holdings, a subsidiary of the global investment company Temasek. Participating investors include Altos Ventures.
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The newly acquired funds will strengthen their organizational capabilities and fuel expansion into the Asia Pacific (APAC) region. The company launched operations in Singapore last year, following the establishment of its US office in 2022. To enable a global service offering, enhancements on EliceLXP (learning experience platform) will be made to advance its AI capabilities and expand content libraries.
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Besides accelerating expansion in APAC, the company plans to strengthen its AI research capabilities by building a large-scale AI Data center in Busan, leveraging its experience in building Portable Modular Data Center. The center aims to recruit technology talent with aspirations to hire a large-scale AI workforce in Busan.
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Kim Jae Won, CEO and Co-founder of Elice Inc. said, “This funding round has cemented our ambitions to establish ourselves as the undisputed leader in B2B technology education platform in South Korea. Our AI-driven education platform has attracted positive responses at various global exhibitions paving the way for our global business expansion. With the fresh funding, we plan to focus on expanding into global markets such as Singapore, the U.S., and Japan along with building a domestic AI infrastructure that can provide a stable AI-driven education environment.”
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Tam Hock Chuan, General Partner at Vertex Growth said “With increasing sophistication in IT workforce roles and the rapid evolution of IT technologies, there’s a growing underserved demand for more advanced, practical workforce education and preparing new graduates entering the workforce in the world of AI. Elice’s platform, evidenced by its impressive growth and endorsements from prominent teaching institutions and corporate clients, stands out as the only market solution adequately addressing these market needs and is poised to appeal to the overseas workforce upskilling/reskilling market. Vertex Growth is committed to assisting Elice in establishing connections with universities and learning institutions in the region. Furthermore, the company’s ambitions extend to establishing an AI computing data center to complement its training offerings. With a highly talented management team, coupled with the support of trusted investors like Altos Ventures, who have a history of backing various market pioneers, Elice is well-positioned to spearhead innovation in the education market.
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About Elice
Founded in 2015, With an established presence in South Korea, Elice focuses on delivering an integrated B2B and B2G educational platform and content for institutional clients, specializing in technical skills upgrades to enhance digital transformation within an organization. Elice serves more than 1,800 globally and counts among its clients South Korea’s major conglomerates, top universities, and government ministries.
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