Heaptalk, Jakarta — South Korea’s AI-powered educational startup, Elice Inc. (Elice), bags US$14.9 million in a Series C round led by Vertex Growth, a growth-stage venture capital fund anchored by Vertex Holdings.
The newest fund will strengthen its 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. The startup will also enhance its learning experience platform, EliceLXP, and expand content libraries.
Besides accelerating expansion in APAC, Elice Inc. intends to amplify its AI research capabilities by building a large-scale AI Data center in Busan, leveraging its experience in building Portable Modular Data Centers (PMDC) to recruit technology talent with aspirations to hire a large-scale AI workforce in Busan.
The CEO and Co-Founder of Elice Inc., Kim Jae Won, 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.
Founded in 2015, this AI company aims to evolve into a full-scale AI education company, offering everything from computing infrastructure and software platforms to educational content and utilizing its extensive educational data and sophisticated AI capabilities.
The company focuses on delivering an integrated B2B and B2G educational platform and content for institutional clients, specializing in technical skills upgrades to elevate digital transformation within an organization.
In its growth, this startup has served over 1,800 clients globally, such as Korea’s major conglomerates, top universities, and government ministries. Furthermore, its existing key clients include Samsung, Hyundai Motors, SK Group, LG Group, and Seoul National University. Its AI-powered practice-oriented education platform, EliceLXP, has also accumulated more than 1.3 million users, recording an average annual growth rate of more than 111%.
General Partner at Vertex Ventures, Tam Hock, conveyed, “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.”
