#South Korea #Seoul #AI Technology #Nota AI #KOSDAQ

Nota AI Seeks KOSDAQ Listing as the First AI Optimization Tech Startup

Nota AI, recognized for its innovative on-device AI technology, has recently taken significant steps towards an initial public offering (IPO) by submitting a preliminary application to the Korea Exchange. This ambitious initiative positions Nota AI as the pioneering AI optimization technology firm seeking a listing on KOSDAQ. The lead underwriter for the IPO is Mirae Asset Securities, with plans to publicly offer around 2,916,000 shares from a total issuance of 21,161,880 shares.

In a remarkable achievement, Nota AI received an 'A' rating from both NICE Information Service and the Korea Technology Finance Corporation in December of the previous year. This milestone underscores the firm's technological prowess and the viability of its business model, solidifying its status within the industry.

The company’s flagship platform, NetsPresso®, excels in automating AI model optimization, which allows for effective deployment on resource-limited edge devices and significantly curtails operational expenses. Nota AI has forged partnerships with leading global semiconductor companies such as NVIDIA, Qualcomm, Samsung Electronics, Arm, and Sony. These collaborations propel continuous innovation and market growth for the company. Nota AI's client roster boasts well-known names among the Fortune Global 500, signifying its impressive market presence and credibility.

Nota AI's generative AI-based solution, the Nota Vision Agent (NVA), has been successfully integrated across various sectors, including industrial safety, transportation, and retail. Recently, Nota AI made headlines by securing a major agreement with Dubai's Roads and Transport Authority, marking the first instance of a Korean firm establishing such a collaboration in the region—a pivotal move that highlights its strong international business potential.

The proceeds from the IPO are set to facilitate the recruitment of top-tier talent, bolster efforts for global market expansion, and expedite the enhancement of its product offerings. Since its inception, Nota AI has established international branches in Berlin, Germany (since 2020), and Sunnyvale, USA (since 2022), while actively pursuing growth in key markets, including the Middle East, Japan, and Southeast Asia.

Myungsu Chae, the CEO of Nota AI, remarked, "Our IPO filing is a critical milestone affirming our position as global leaders in AI optimization technology. This IPO will accelerate our innovation capabilities and significantly boost our global market penetration."

The journey of Nota AI to seek a KOSDAQ listing is not only a testament to its technological advancements but also to the robust investment backing it has garnered. The company has raised a substantial $42.6 million from notable investors, including industry giants like Samsung, LG, Naver D2SF, and Kakao. In the previous year, Nota AI reported revenues of approximately $5.86 million, marking a remarkable 136% growth compared to the previous year. The company anticipates continued strong growth, projecting an increase of over 67% for the current year, further validating its technology-driven business model.

In conclusion, as Nota AI embarks on its IPO journey, it stands at the forefront of the AI optimization sector, illustrating how innovation and strategic partnerships can lead to substantial growth and recognition within the industry.