Newen AI, a big data analysis company based on generative artificial intelligence (AI), was listed on the KOSDAQ market on July 4. Newen AI started trading at 36,900 won, up 146% from its public offering price of 15,000 won.
In the previous demand forecast, a competition rate of 995.61 to 1 and a total of 24.8 trillion won worth of orders were received, and the confirmation rate reached 17.2%. In the general subscription, a competition rate of 1,468 to 1 was recorded, and 6.114 trillion won worth of subscription deposits were received.
Founded in 2004, NewenAI operates a subscription service business based on AI-based data analysis technology. Based on the colloquial language model 'Quetta', it provides various solutions such as ▲customized analysis service 'Quetta Enterprise', ▲general analysis service 'Quetta Service', and ▲data purification service 'Quetta Data'.
With approximately 200 billion data points and 900 specialized models for each industry and task, NewenAI has carried out more than 550 projects, including those for large domestic companies and public institutions. It processes more than 9 billion data points annually, including real-time SNS data, and announced that the data collection accuracy is 99.9%.
The company plans to use the funds raised through the listing to develop new AI products and enter overseas markets. In particular, it plans to expand industry-specific SaaS products centered on beauty, e-commerce, and healthcare, and launch a global analysis service that supports multiple languages to respond to demand centered on K-content.
NewenAI CEO Bae Seong-hwan said, “We will establish ourselves as a global AI technology partner through continuous technological advancement and global expansion,” and “We will use this listing as a stepping stone to fulfill our role as a responsible company.”
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