IVWORKS, a startup specializing in power semiconductor materials, has completed a 6 billion won pre-IPO and secured a cumulative investment of 45 billion won, and is now actively pursuing the expansion of mass production and a listing on the KOSDAQ.

IVWorks announced on the 2nd that it received an additional 6 billion won in investment during a recent pre-IPO round. With this investment, the company's cumulative investment has reached approximately 45 billion won.

This round attracted significant attention due to the large-scale participation of existing investors, including IM Investment Partners and Enlight Ventures. This is seen as a reaffirmation of the market's confidence in IVWorks' core technological capabilities and mid-to-long-term growth potential.

IVWORKS plans to leverage its secured funds to focus on upgrading its mass production system to meet expanding global demand. In particular, the company's strategy is to rapidly increase its supply capabilities to overseas markets by expanding production infrastructure to keep pace with rising demand for power conversion solutions for AI servers and in the defense sector, and by establishing a stable supply chain.

The company is also accelerating efforts to strengthen its technological competitiveness. The company's independently developed epiwafer-based power semiconductor material, 'reGaN,' is characterized by reducing heat generation issues and significantly improving energy efficiency by lowering contact resistance to one-tenth of the level of existing materials. The product is already being supplied to major global foundry companies and has recently completed quality certification, entering the full-scale mass production phase.

IVWorks plans to expand its global customer base by providing differentiated process solutions centered on reGaN. Through this, the company aims to further strengthen its position in the power semiconductor materials market.

Meanwhile, leveraging this investment, the company has also begun full-scale preparations for a KOSDAQ listing. Korea Investment & Securities is the lead underwriter, and the company plans to pursue the IPO through the special technology listing method. Currently, preparations for the technology evaluation are underway, followed by the sequential execution of listing procedures, such as filing for a preliminary review.

Noh Young-kyun, CEO of IVWorks, stated, “The continued trust of our existing shareholders led to this investment,” adding, “We will definitively prove our competitiveness in the global power semiconductor materials market by strengthening our mass production capabilities and thoroughly preparing for an IPO.”