AI infrastructure company raised 6.7 billion KRW ahead of IPO
October 21, 2026 · 2 min read
An artificial intelligence infrastructure software company reportedly raised 6.7 billion KRW in funding ahead of its initial public offering scheduled for October 3. Despite generating only 6.7 billion KRW in revenue last year, the company has set a post-IPO valuation target of up to 320 billion KRW.
The valuation is based on projected net income for 2029, which was discounted to a present value of 12.9 billion KRW using a 15% discount rate. The company claims it will achieve an 8.6 times increase in revenue over the next four years, projecting revenue of 9.9 billion KRW this year, 22.1 billion KRW next year, and reaching 57.8 billion KRW by 2029.
On October 19, the company held a public offering meeting where it outlined its growth strategy and plans to list on the KOSDAQ. It set a target offering price range between 19,000 and 22,000 KRW, with an anticipated market capitalization of between 276.3 billion and 320 billion KRW following the IPO.
The company reported approximately 600 million KRW in operating profit last year, alongside a net loss of 1.5 billion KRW. It attributes its revenue growth to both increased sales from existing licenses and the acquisition of new customers.
In addition, the company has identified 163 potential clients in the global neo-cloud market, aiming to secure business through local reseller partners in the US, UK, and Singapore. Half of the funds from the IPO will be allocated to hardware procurement for technology validation, while the other half will be directed towards international expansion, particularly in the US and Japan.