[Asia Economy Reporter Buaeri] AI education solution company Riiid has secured an investment worth 200 billion KRW.
On the 25th, Riiid announced that it raised $175 million (approximately 200 billion KRW) in a Series D investment from SoftBank Vision Fund 2. Riiid's cumulative investment amount now totals 284 billion KRW.
Moon Kyuhak, SoftBank Investment Advisor, stated, "Riiid is a company leading the paradigm shift from standardized education methods to personalized learning," adding, "What impressed us was that Riiid's AI and machine learning platform provides personalized learning solutions to education companies, schools, and students, maximizing learning effectiveness."
Riiid plans to focus this investment on strengthening its AI technology capabilities. The company is already pushing forward with establishing research and development (R&D) centers and data centers in Silicon Valley, USA, Canada, and Ghana, Africa. It will continue to recruit global talent to build its technological infrastructure.
Jang Youngjun, CEO of Riiid, said, "We aim to reorganize the existing education paradigm from content creation and distribution-centered to a technology, especially AI-centered industry, and achieve true equalization of educational opportunities," adding, "This investment marks the beginning of Riiid's vision to create a new industrial ecosystem rather than just a business. To this end, we plan to collaborate not only with overseas but also domestic companies."
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