South Korean AI-powered education startup, Elice Inc., has secured US$14.9 million in a Series C funding round led by Vertex Growth. This investment will boost the company’s expansion in the Asia Pacific region and enhance its learning experience platform, EliceLXP, along with its content libraries.
Founded in 2015, Elice Inc. is set to expand its AI research capabilities with the construction of a large-scale AI Data center in Busan. The company’s strategy includes leveraging its expertise in Portable Modular Data Centers (PMDC) and recruiting a substantial AI workforce in Busan. This initiative is part of Elice’s broader vision to evolve into a full-scale AI education company, offering services ranging from computing infrastructure to educational content.
Elice has already established a presence in international markets, including operations in Singapore and the United States, and serves over 1,800 global clients. Notable clients include major corporations like Samsung, Hyundai Motors, SK Group, LG Group, and prestigious institutions such as Seoul National University.
The company’s EliceLXP platform has achieved significant success, attracting over 1.3 million users and witnessing an average annual growth rate of more than 111%. Elice’s focus remains on providing integrated B2B and B2G educational platforms and content, particularly in enhancing technical skills and aiding digital transformation within organizations.
Some words from those involved in the funding round:
“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.”
—Kim Jae Won, CEO & Co-Founder of Elice
“Elice’s platform stands out as the only market solution adequately addressing these market needs and is poised to appeal to the overseas workforce upskilling or reskilling market, demonstrated by its impressive improvement and endorsements from prominent teaching institutions and corporate clients. With a highly talented management team and the support of trusted investors, Elice startup is well-positioned to spearhead innovation in the education market.”
— Tam Hock, General Partner at Vertex Ventures
