Telepix announced on the 17th that it has secured 15 billion won ($10.5 million) in pre-IPO investment ahead of its planned KOSDAQ listing in the second half of this year.
Venture capital firm InterVest participated as the sole investor in this round. The funding brings Telepix's cumulative investment to 50 billion won. Existing investors include Korea Development Bank, SBVA, JnPrivate Equity, and Daishin Private Equity.
The investment was pursued to support satellite mass production and strengthen manufacturing capabilities in response to growing overseas orders. Last month, Telepix signed a satellite export contract worth tens of millions of dollars in the European market. The company is expanding its global business based on satellite data processing technology, including artificial intelligence on-board processing and satellite imagery analysis solutions.
The funds will be used to expand production facilities and research and development to meet surging demand for space data. The company also plans to accelerate preparations for its initial public offering, targeting a KOSDAQ listing in the second half of this year.
Telepix is a space AI solutions company that combines satellite hardware with AI-based data processing technology. The company has secured competitiveness in the global space data industry through capabilities spanning satellite manufacturing, operation, and data processing and analysis. Based on this, it became the first private Korean space company to pass the technology evaluation for special tech-based listing in the AI and big data sector.
"This investment is a meaningful achievement that demonstrates market recognition of Telepix's competitive edge in space AI technology combining satellite data and artificial intelligence," said Cho Sung-ik, CEO of Telepix. "Through our planned listing in the second half of this year, we will accelerate technology advancement and global business expansion to grow into a company leading the space data industry."