Edutech company ‘Speak Easy Labs’ and ‘Jincore’, a company specializing in genetic scissors, succeeded in attracting investment, respectively.
According to the venture capital (VC) industry on the 13th, EduTech company ‘Speak Easy Labs’ recently attracted 38 billion won (27 million dollars) worth of Series B (investment received in the full-fledged business expansion stage). The investment involved “Open AI Startup Fund” and a number of Silicon Valley investors. The fund is a $100 million fund run by OpenAI, an artificial intelligence research institute co-founded by Tesla CEO Elon Musk and former Y Combinator Chairman Sam Altman.
SpeechG Labs is a company that operates ‘Spic’, an artificial intelligence (AI) voice recognition English learning solution. Spik is an English speaking app that helps anyone learn English easily. The self-developed voice recognition AI engine processes the user’s voice within 0.1 seconds and provides up to 10 times more English conversation practice than existing online lectures or academies.
In three years since its launch in Korea, SPIC has surpassed 2 million cumulative downloads and topped the Apple App Store education category. Spik will strengthen its competitiveness by introducing new features for future English learning. In addition, it plans to expand its scope to various languages such as Spanish and French in addition to English and start overseas expansion in earnest.
Gene Core, a company specializing in genetic scissors, has also recently attracted 17.1 billion won worth of investment in Series A (investment before entering the market in earnest). In addition to Stick Ventures, Kiwoom Investment, Aju Ivy Investment, Clare Boyent Ventures, The Wells Investment, and SJ Investment Partners participated in the investment.
Founded in 2019, Jincore is a genetic scissors technology platform company founded by Dr. Kim Yong-sam, who served as the head of the Center for Genetic Correction Research at the Korea Institute of Biotechnology. Currently, it has its own ultra-small gene scissors technology.
In July, Jin Core expanded its research center to Omnibus Park, a medical convergence space at the Catholic Medical Center in Banpo-dong, Seoul.
It is attracting technology development (R&D) professionals, expanding research facilities, and speeding up the development of gene scissors technology and gene therapy products. Recently, he published papers in world-class journals “Nature Biotech” and “Nature Chemical Biology” and received worldwide recognition for his technology.
Based on this investment, the company plans to strengthen its competitiveness and actively develop it through various partnerships with domestic and foreign companies.