Keywords: Targeting IPO Review Submission by Late Next Year, Secures Large-Scale Orders Before Mass Production
Soteria, a fabless semiconductor design company specializing in artificial intelligence (AI), has initiated steps to go public. Following its contract with NH Investment & Securities earlier this year, the company recently signed an agreement with Hana Securities as a co-underwriter to accelerate its initial public offering (IPO) process.
Hana Securities Joins as Co-Underwriter
According to the investment industry on the 30th, Hana Securities signed an IPO management contract with Soteria last month. Together with NH Investment & Securities, Hana Securities will co-manage the listing. The company aims to submit an IPO review application by late next year, with plans to enter the stock market as early as early 2026.
Soteria chose Hana Securities as an IPO partner due to its experience in listing fabless companies. Notably, Hana managed the IPO of SAPIEN Semiconductor, which entered KOSDAQ in February this year, showcasing a deep understanding of the fabless sector.
Background and Expertise of Soteria
Founded in 2018 by a team of semiconductor experts, Soteria is a fabless startup. Its core team includes former Georgia Institute of Technology professor Kim Jong-man and researchers from Samsung Electronics and SK Hynix.
The company boasts a team with an average of over 25 years of experience in the semiconductor industry. Members have collectively developed and mass-produced more than 20 ASIC and SoC chips during their time at Samsung Electronics, SK Hynix, and Intel.
Soteria specializes in developing ultra-low-power high-performance computing (HPC) accelerators and Compute Express Link (CXL)-based near-data processing (NDP) memory solutions. The flagship product is the ultra-low-power HPC accelerator “Artemis,” which incorporates Near Threshold Voltage (NTV) design to enable efficient operation. Artemis chips are expected to enter mass production this year.
Strategic Focus and Differentiation
With the growing adoption of AI by big tech companies, demand for HPC accelerators is surging, particularly for data centers. While many fabless firms target mega-scale data centers, Soteria focuses on providing customized HPC accelerators for medium to large-scale data centers, setting itself apart from competitors.
Soteria has secured significant orders even before mass production, a testament to its technical validation by clients. Despite being an 8-year-old startup, it has gained recognition for developing ultra-low-power, high-performance customized chips.
Partnership with Samsung Foundry
Soteria became the first domestic fabless company to receive allocation from Samsung Foundry for the mass production of 4-nanometer (nm) chips. Samsung will support Soteria’s production of LVH accelerators using advanced 4nm process technology.
Investment and Growth
Soteria has attracted approximately 38 billion won (around $28 million USD) in investments to date. Major investors include KDB Capital, Anda Asia Ventures, Korea Credit Guarantee Fund, as well as securities firms and institutional investors.
An industry insider noted, “Soteria is the only domestic fabless company capable of strategic collaboration with Samsung Foundry on processes below 4nm, including standard cell re-characterization. Despite being a young company, it has already established partnerships and secured orders from large domestic and international buyers, making it a highly promising enterprise.”
https://news.einfomax.co.kr/news/articleView.html?idxno=4330231
