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Elice Secures KRW 20 Billion Investment from Vertex… “Applying AI Across Infrastructure, Platform, and Content”

2024-01-18 3 min read


Elice Secures KRW 20 Billion Investment from Vertex… “Applying AI Across Infrastructure, Platform, and Content”

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The South Korean educational practice platform company, Elice, held a press briefing titled ‘Everything of AI’ on the 17th at the Intercontinental Seoul COEX in Gangnam District, Seoul. They announced their ambition to become a leading AI solution company, leveraging their accumulated educational data and AI technology expertise.

To achieve this, Elice introduced a comprehensive all-in-one platform strategy for AI education and AI solution businesses, aiming to pioneer a new horizon in AI education. Additionally, they revealed a KRW 20 billion investment from the global investment firm Vertex Growth and Altos Ventures, aimed at establishing a stable infrastructure for AI education and research.

Elice plans to enhance its AI capabilities on the platform and establish a new library. This library will allow multiple content companies to register their learning materials, creating a ‘comprehensive educational platform’ where various educational contents can be accessed in one place.

Initially, Elice aims to broaden the range of content options for corporate and individual customers using EliceLXP by expanding partnerships with leading content companies both domestically and internationally. Following a domestic exclusive supply contract last year with Pluralsight, a top global B2B IT education company in the US, Elice also entered into partnership agreements with CLASS101 and RMP.

The newly launching ‘EliceLibrary’ will register a variety of content, including those from Elice and its partners. EliceLibrary is a system designed for easy uploading of various learning materials and enables version management through updates. Enterprises and institutions adopting EliceLXP can design curriculums using library content and construct customized assessment systems.

EliceLXP’s AI functionalities are being upgraded to include translation of video and text materials necessary for content creation, subtitles, dubbing, and even spell check. The AI will understand the content and suggest appropriate results. Tone modification will be available, facilitating the creation of customized learning materials suitable for the nature of the lectures. An AI question auto-generator for testing learning content will also be provided. The ‘AI Helper’, based on generative AI, will expand its role as a ‘tutor’, providing interactive educational experiences through proactive feedback.

With the full-scale introduction of AI in public education by 2025, Elice has been leading the development of AI digital textbooks and building an AI-centric educational environment. Elice has successfully developed its own specialized small language model (sLM) based on the vast educational data it has accumulated. This model, a 25th the size of conventional large language models (LLM), offers faster response times and demonstrates higher performance in programming-related Q&As, having learned from approximately 200,000 Q&A data. It can optimize model selection based on the learner’s questions. Currently, it is applied in AI Helper, providing a novel programming education environment.

The Elice public education platform is evolving into a comprehensive platform that supports learning in coding-based information subjects as well as in English and mathematics. Currently, a total of 63,000 library materials are registered, with AI Helper also available for information, English, and mathematics subjects. Elice plans to enable multiple textbook publishers to produce and register content using the EliceLibrary feature, facilitating free use by educational institutions.

Elice also highlighted various research achievements in integrating AI into public education. These include ‘Safe AI’, currently under development to ensure safe and accurate information delivery to students, and AI research collaborations with domestic universities such as POSTECH and KAIST.

With the surge in research institutions, universities, and companies involved in AI-related research and development, the demand for AI data centers has also increased. Elice is constructing an AI data center and offering the ‘EliceCloud’ service, which allows for customized usage based on consumption. Users of the EliceCloud service can access resources as needed at a reasonable cost thanks to its unique ‘dynamic allocation technology’. The service includes AI education and research-optimized features such as EliceProject, EliceCloud On-Demand, and EliceML API.

EliceProject is a service that provides a pre-configured development environment and GPU resources, enabling AI researchers, students, and developers to start their work immediately on an online platform. It operates on a monthly subscription model, reducing the burden of GPU usage.

Elice is also advancing the construction of its own data center specialized in AI. The Elice AI Data Center, a Portable Modular Data Center (PMDC), is characterized by its high-density power configuration, optimized for AI infrastructure operations, and the ability to rapidly expand in module units according to demand. Its high energy efficiency helps reduce operational costs. Moreover, it supports on-premises deployment in module units, providing optimal conditions for entities where data security is paramount.

In pursuit of this, Elice recently secured a KRW 20 billion investment from the new global VC Vertex to expand its business scope as an AI solution company, including constructing data centers. Following the establishment of its US corporation in 2022 and its Singapore corporation last year, Elice, which showcased EliceLXP to global buyers at CES 2024, plans to intensify its focus on the APAC market, centered in Singapore, this year.

[Korean Edutech Startup News]

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