Fadu, a fabless semiconductor startup, has achieved unicorn status by securing 12 billion won ($9.2 million) in pre-IPO funding, making it the first such company to do so this year. This success comes after the company attracted an investment of 30 billion won ($23 million) in April 2022, just nine months ago.

Specializing in system semiconductors for data centers, Fadu’s flagship product is an SSD specifically designed for data centers. It has earned recognition for its world-class read/write performance, low power consumption, and minimal heat output, and has been drawing interest from top global hyperscale data centers.

Fadu is anticipating significant growth in sales and profits starting this year, and plans to expand its workforce to accelerate this growth further. Investment firms Forest Partners and IBK Capital contributed to this funding round, which exceeded its initial target by 20% due to high demand.

Also Read, 

• Yanolja becomes the first Korean unicorn startup to become a member of the UAE incubator
• Tridge becomes the first unicorn in the agri-trade sector as Korea’s unicorn startup list reached 22 in 2022
• Korean startup Rebellion launches AI semiconductor for ‘Korean GPT’
• Semiconductor power analysis solution Korean startup Baum Design Systems attracts Series A investment

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