Targeting H1 2026 IPO with $40M in cumulative investment and 100+ vertical AI solution deployments
SEOUL, South Korea, March 3, 2026 — MakinaRocks, a leader in vertical AI, announced today that it has received preliminary approval from the Korea Exchange (KRX) for a KOSDAQ listing. Working alongside lead underwriter Mirae Asset Securities, MakinaRocks is now completing the final procedures for its initial public offering, targeted for the first half of 2026.
The approval formally recognizes the company’s technological edge and business scalability. In a rigorous technology assessment conducted last November, MakinaRocks received an ‘A’ rating from both NICE D&B and Ecredible—achieving a rare combined A-A grade that drew significant market attention ahead of the listing process.
Founded in December 2017, MakinaRocks has established itself as Korea’s defining vertical AI company, delivering high-performance solutions purpose-built for mission-critical industrial environments, including manufacturing and defense. Since its inception, the company has attracted an exceptionally broad coalition of Series A investors—including Applied Ventures, LG, SK, and Naver—a signal of cross-industry conviction rarely seen at that stage. Subsequent rounds included strategic investments from GS, Samsung, POSCO, and Hanwha, bringing total cumulative investment to approximately $40 million (₩53 billion).
A defining strength of MakinaRocks is the virtuous cycle between its strategic investors and its customer base; many of the same organizations that invested are now active deployment partners. The company has delivered more than 100 vertical AI solutions across global industrial leaders—including Doosan, Samsung, Hyundai, Hyosung, LG, GS, and SK—as well as defense institutions such as the Agency for Defense Development (ADD) and the ROK Navy 1st Fleet Command. This track record translated into significant growth in 2025, with MakinaRocks more than doubling its contract wins year-on-year.
The engine behind this momentum is Runway, MakinaRocks’ proprietary AI operating system. Runway supports the full AI lifecycle from development through deployment and operations (MLOps), and is engineered to run reliably in air-gapped, closed-network environments where security requirements are absolute. On this foundation, MakinaRocks is expanding its AI Transformation (AX) footprint beyond manufacturing into defense, finance, and other sectors where intelligent operations are most critical.
The company also serves as a key partner in Korea’s national AI strategy — as part of the Ministry of Science and ICT’s sovereign foundation model project (Upstage consortium) and as a lead organization in the Ministry of Trade, Industry and Energy’s Manufacturing AX Alliance. Proceeds from the IPO will be directed toward advancing Runway’s technical capabilities and accelerating the company’s expansion into global markets.
“This preliminary approval is a testament to the technology and proven track record MakinaRocks has built on factory floors and in the field,” said Andre S. Yoon, CEO of MakinaRocks. “Having cleared the rigorous scrutiny of the capital markets, we will continue to strengthen the competitiveness of Korea’s manufacturing and defense sectors while growing into a leader in the global vertical AI market.”
