Space artificial intelligence (AI) comprehensive solution corporations TelePIX secured a pre-IPO investment ahead of its KOSDAQ listing.
TelePIX said on the 16th that it secured an investment of about 15 billion won from venture capital (VC) Intervest. The investment was made to expand satellite production capacity in line with increasing overseas orders as the company pushes for a KOSDAQ listing in the second half of this year.
Earlier, in Feb., TelePIX signed a satellite export contract worth tens of millions of dollars in the European market. This created a greater need to expand its satellite mass-production system and manufacturing facilities, and the secured funds are set to be invested in expanding production infrastructure and research and development (R&D). The company also plans to ramp up preparations for an initial public offering (IPO) in the second half of the year.
Including this round, TelePIX's cumulative fundraising amounts to about 50 billion won. Existing investors include Korea Development Bank, SBVA (formerly SoftBank Ventures), J&Private Equity, and Daishin Private Equity.
Founded in 2019, TelePIX develops satellite hardware and AI-based data processing technology together. It has expanded its business scope to satellite manufacturing and operations, as well as satellite data processing and analysis. Based on this technological prowess, it became the first among private space corporations in Korea to pass a technology evaluation for a special listing in the AI and big data field.
The company has also focused on developing AI technologies usable in space environments. It launched and operates the graphics processing unit (GPU)-based real-time AI processor for satellites "TetraPLEX," the AI CubeSat "Bluebon," and the next-generation AI star tracker for deep-space navigation "DNAV," and it is independently developing a satellite data–specialized agentic AI solution. Last year, it was selected in the AI category of the Defense Acquisition Program Administration's "100 Defense Innovation Corporations."
An Intervest official said, "TelePIX is corporations that possesses both AI technology based on satellite data and global business scalability," adding, "We decided on this investment judging that it has high potential along with the growth of the space data industry."
Seongick Cho, CEO of TelePIX, said, "This fundraising is a meaningful achievement that recognizes in the market TelePIX's competitive edge in space AI technology combining satellite data and AI," adding, "Through the listing planned for the second half of this year, we will accelerate technological advancement and global business expansion to grow into corporations leading the space data industry."