DAEGU — Bayilis, an embedded system software company, has completed a 5.5 billion won ($4 million) Series B funding round, the Daegyeong ICT Industry Association said on the 26th. Bayilis is a member company of the association.
The round drew participation from investment funds managed by BNK Venture Investment, SpaceTime Investment, The Ham Partners, IBK Capital and Blue Corner Capital.
Bayilis plans to channel the new funds into core new businesses — including automotive control unit software, defense industry work and LiDAR-based solutions — and into preparations for a stock listing.
NH Investment & Securities (005940.KS) is serving as the underwriter, with the company aiming to go public next year.
Bayilis previously raised 11.7 billion won last year through a Series A round involving both new and existing shares.
Building on the Series A funding, the company accelerated the commercialization of its technology and product development, posting revenue of about 20 billion won last year. In the first half of this year, it recorded revenue of 11.3 billion won, up 51% from the same period a year earlier.
"By systematically preparing for a KOSDAQ listing, we will grow into a global embedded system software company that completes the future mobility ecosystem across automotive electronics, edge devices and the defense industry," said CEO Kim Hyung-jun.
