South Korean cloud firm Elice has gone public.

“Today, Elice Group takes a big step forward with our listing on the Kosdaq market,” the company said this week. “Starting from a small research lab at KAIST, we’ve come this far thanks to the unwavering trust of our customers, partners, investors, and every member of the Elice team.”

The firm raised 201 billion won ($151.4 million) in the stock exchange’s biggest float in 2026. Elice had priced its shares at 90,500 won each in the IPO, but shares have since dropped to 61,400 won.

Founded in 2015, Elice provides AI education and cloud services – it provides a practice environment to learn and practice AI and a content management system to manage educational materials.

Elice also offers access to GPUs from Nvidia and NPUs from FuriosaAI – with hardware from another vendor, Rebellions, on the roadmap.

The company has a modular containerized data center offering – the Elice AI Portable Modular Data Center (PMDC) – and is planning to develop an AI Data center in Busan based on its modules. Elice secured $14.9 million in Series C funding last year.

Last year, Elice partnered with SK Telecom to jointly build AI data center infrastructure and develop AI solutions.