Leading EdTech startup and AI solutions provider has successfully secured $41.8 million in pre-Series D funding round. The round includes investment from state-run Korea Development Bank (KDB), NVESTOR, Intervest as well as from an existing investor IMM Investment, bringing Riiid’s total funding to date to $70.2 million.
Riiid successfully completed domestic funding amid a slower investment environment due to the unprecedented COVID-19 pandemic and has made significant progress in negotiating with overseas financial investors to accelerate global expansion. Riiid is already in the process of forming various global partnerships based on its verified AI technology in both academic and commercial markets, and will soon unveil new products and services. We are committed to creating a future for education beyond our imagination through in-depth R&D and commercialization of technology. Riiid is establishing a global standard while defining valid technologies and leading researches in the field of AI EdTech.