# IVWorks Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ivworks-co

- Industry: Semiconductors
- Headquarters: Daejeon, South Korea
- Website: www.ivwkr.com/
- Total disclosed funding: $35M
- Latest round: Series D (Jun 1, 2023)
- Investors on record: 19

## About

IVWorks Co., Ltd., based in South Korea, specializes in the development and production of advanced semiconductor materials, with a focus on gallium nitride (GaN) epitaxial wafers for various high-tech applications. Founded in 2011 and headquartered in Daejeon-City, South Korea, IVWorks Co., Ltd. focuses on semiconductor materials, specifically GaN epitaxial wafers. In April 2026, IVWorks Co., Ltd. raised KRW 6 billion in pre-IPO funding from returning investors iM Investment Partners and Enlight Ventures. Other unspecified investors also participated in the round.

IVWorks specializes in the development and production of advanced semiconductor materials, particularly GaN epitaxial wafers. Their core offerings include high-quality, customized GaN epiwafers designed for a variety of applications, including DC and RF power devices, as well as next-generation communication technologies such as 5G and 6G. The company's Artificial Intelligent Epitaxy Platform enables rapid customization of GaN wafers through an intelligent production process that integrates deep learning and real-time monitoring, serving customers in North America, Europe, and parts of Asia.

IVWorks generates revenue through direct sales and partnerships with prominent semiconductor manufacturers globally. Transactions are primarily structured as B2B agreements, focusing on customized solutions tailored to client needs. The company reported KRW 100 billion in revenue, alongside KRW 5.2 billion in operating loss and KRW 15 billion in net loss for the December 2022 fiscal year, emphasizing long-term client partnerships and eco-friendly manufacturing processes.

The company will use the April 2026 funding to expand mass production capacity for the artificial intelligence server power conversion and defense markets.

## Funding rounds

- Series D, Jun 1, 2023, $0.8M — Hanwha Investment & Securities
- Series D, Apr 29, 2023, $0.8M — Korea Venture Investment Corporation
- Series D, Jul 18, 2022, $7.6M — DT&Investment, Enlight Ventures, Intops Investment, UON INVESTMENT
- Series C, Nov 5, 2021, $17M — Korea Investment & Securities, Hyundai Venture Investment, WONIK Investment Partners, Wooshin Venture Capital, YG Investment, Log Investment, Delov Cooperative
- Series B, Dec 12, 2019, $6.8M — Korea Development Bank, KB Investment, Samsung Venture Investment, DT&Investment, J&J investment
- Series A, Apr 22, 2016, $0.8M — Seoul Private Equity, Soorim Venture Capital
- Seed, Jun 1, 2015, $0.5M — Samsung Venture Investment, Seoul Private Equity

## Investors

- Samsung Venture Investment (https://capitalatlas.ai/funds/samsung-venture-investment) — Seed, Series B
- Seoul Private Equity (https://capitalatlas.ai/funds/seoul-private-equity) — Seed, Series A
- Soorim Venture Capital (https://capitalatlas.ai/funds/soorim-venture-capital) — Series A
- Korea Development Bank (https://capitalatlas.ai/funds/korea-development-bank) — Series B
- KB Investment (https://capitalatlas.ai/funds/kb-investment) — Series B
- DT&Investment (https://capitalatlas.ai/funds/dt-investment) — Series B, Series D
- J&J investment — Series B
- Korea Investment & Securities (https://capitalatlas.ai/funds/korea-investment-securities) — Series C
- Hyundai Venture Investment (https://capitalatlas.ai/funds/hyundai-venture-investment) — Series C
- WONIK Investment Partners (https://capitalatlas.ai/funds/wonik-investment-partners) — Series C
- Wooshin Venture Capital (https://capitalatlas.ai/funds/wooshin-venture-capital) — Series C
- YG Investment (https://capitalatlas.ai/funds/yg-investment) — Series C
- Log Investment (https://capitalatlas.ai/funds/log-investment) — Series C
- Delov Cooperative — Series C
- Enlight Ventures (https://capitalatlas.ai/funds/enlight-ventures) — Series D
- Intops Investment (https://capitalatlas.ai/funds/intops-investment) — Series D
- UON INVESTMENT (https://capitalatlas.ai/funds/uon-investment) — Series D
- Korea Venture Investment Corporation (https://capitalatlas.ai/funds/korea-venture-investment-corporation) — Series D
- Hanwha Investment & Securities (https://capitalatlas.ai/funds/hanwha-investment-securities) — Series D