Wrtn Technologies, an AI service platform company, said on Tuesday it recently sent requests for proposals (RFPs) to major South Korean securities firms to select lead managers for its initial public offering (IPO). It plans to select lead managers this month and finalise a detailed timetable, targeting a listing from next year onward.
Wrtn recently raised a 100 billion won Series C after being valued at more than 1 trillion won, helped by revenue growth in overseas markets including North America. Its cumulative funding totals about 230 billion won.
OOC, an AI entertainment content platform it operates in North America, has surpassed 10 billion won in monthly revenue.
Wrtn also plans to strengthen its youth protection policy in line with business expansion. It plans to announce detailed measures this month to enhance safety in AI use for youths.
Wrtn CEO Se-young Lee (이세영) said, "Based on trust in the capital market, we will grow on a broader global stage and also ensure we do not neglect efforts to build AI services that users can use safely and trust."
Seulgi Son
sageson@d-today.co.kr