Speclipse raises $11M pre-IPO round at $130M valuation

What's the deal? SpeclipseDealroom has a profile for this one. Try Dealroom →, a South Korean company building laser and AI-based skin treatment and skin cancer diagnostic devices, has raised US$12.6M in a pre-IPO round. The deal valued the company at US$150.9M.

The details: The round combined new share issuance with secondary sales. Two existing institutional shareholders and two new institutions bought the secondary shares, some of which came from funds reaching the end of their operating terms.

Why now? The valuation more than doubled from the US$73.8M Speclipse commanded in its 2024 round. First-half revenue rose about 150% year on year, already surpassing last year's full-year total, with exports reaching 27 countries.

What's the endgame? The company will spend the proceeds on expanding production facilities and hiring across manufacturing, sales, and medical device licensing. It is targeting a Kosdaq listing at the end of 2027 and is reviewing plans with underwriters.

Its main product is PICO-K, an in-house cosmetic and treatment device driving sales across the Middle East and Indonesia. Two new devices are in the pipeline: Therjet, a radio-frequency device slated for the first half of 2027, and Duo-K, a hair-removal laser device targeting a late-2027 domestic launch.

What they're saying: The round confirmed "that the company is achieving the revenue and growth it promised existing shareholders," said chief executive officer Hong Jung-hwan. He added the plan is to "build a virtuous cycle that connects this investment to continued revenue growth."

The signal: The pre-IPO cash and doubled valuation position Speclipse to scale manufacturing ahead of a listing, betting that global partner supply and its own-brand sales can sustain triple-digit revenue growth.

Read more: edaily.co.kr

Image credit: Generated with Gemini