Ruton Technologies is officially preparing for its initial public offering (IPO) by starting the selection process for underwriters.
On September 2, Ruton announced that it has sent requests for proposals (RFPs) to major domestic securities firms for the selection of IPO underwriters. The company aims to go public next year and plans to finalize details related to the listing after selecting an underwriter this month.
Recently, Ruton was recognized with a valuation exceeding 1 trillion won and secured 100 billion won in Series C funding. This brings the total amount of investment raised to approximately 230 billion won.
Ruton is also experiencing growth in its overseas operations. The company's AI entertainment content platform, 'OOC,' in North America has surpassed monthly sales of 10 billion won. Ruton is expanding its business scope in international markets based on its domestic AI service operations, thereby broadening its revenue growth base.
In response to the expansion of AI services, Ruton is also enhancing user protection. The company plans to strengthen its youth protection policies to increase the safety of AI usage, with specific policies and implementation measures to be announced later this month.
CEO Lee Se-young stated, “Over the past five years since our founding, we have established ourselves as a leading domestic AI service company. The recognition of our valuation exceeding 1 trillion won and the rapid growth of our overseas sales demonstrate the global competitiveness of Korean AI services. Now, based on trust in the capital market, we aim to achieve greater growth on a broader global stage while ensuring that we do not neglect our responsibility to provide safe and reliable AI services for users.”
* This article has been translated by AI.
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