Dot-Mill Secures $12 Million in Pre-IPO Funding… to go public on KOSDAQ in H1 2024
Dot-Mill(닷밀), a company specializing in immersive media-based entertainment, has raised approximately $12 million (KRW 15.8 billion) in pre-IPO equity investment.
Smilegate Investment, S&S Investment, Seoul New Technology Investment, KIWOOM Investment, Solidus Investment, Seoul Business Agency (SBA) and Industrial Bank of Korea (IBK), including listed brokerage Miare Asset Securities, participated as new investors in the pre-IPO, which included the sale of new and old shares. An additional investment of $2.3 million (KRW 3 billion) from the Korea Development Bank (KDB) is being considered.
Founded in 2015, Dot-Mill is a company that produces and operates a ‘midway theme park’ based on immersive media technologies such as holograms, AR, VR, media servers, and AI. The term “midway theme park” refers to small and medium-sized theme parks located in urban centers, and Dot-Mill operates midway theme parks such as Jeju Realistic Media Theme Park “Lunafall,” Shinbi’s Haunted House Media Adventure: Sealed Exorcism, and Anseong Starfield ‘Glow Safari’ with in-house staff.
In particular, “Glow Safari”, an immersive media theme park at Anseong Starfield, Gyeonggi-do, which opened on August 18, has been recognized as a representative leisure facility in the Gyeonggi-do region with an average of more than 1,500 visitors per weekend. Next, the company will open an immersive media theme park, Ice Jungle, in Phu Quoc, Vietnam, in November, and is preparing to enter the global market in earnest.
In addition, Dot-Mill plans to open a traveling immersive media exhibition utilizing global artist IP as soon as possible and is in talks with a number of overseas countries such as China and the United Arab Emirates for theme park licensing business. After successfully completing its KOSDAQ listing in the first half of 2024, Dot-Mill plans to introduce a series of midway theme parks tailored to the characteristics of major locations around the world.
Haewoon Jung, CEO of Dot-Mill, said, “We are deeply grateful to our investors for trusting us to successfully complete our pre-IPO without any loss of value in the midst of an investment freeze. He added, “We look forward to our journey to make the world more mysterious, which is also our slogan.”
Meanwhile, Dot-Mill has been recognized for its planning and directing skills by winning the President’s Award for Meritorious Contribution to Venture Startup Promotion and the Prime Minister’s Award at the Korea Design Awards. Dot-Mill has also demonstrated its high level of technological capability by obtaining a total of 26 technology patents and receiving TI-2, the highest technical credit rating for investment. The company directed and produced DPIRANG in Tongyeong, which was selected as one of the top 100 tourist destinations in Korea, and produced and operated the immersive media theme park Lunafall, Shinbi’s Haunted House Media Adventure: Sealed Exorcism and Anseong Starfield’s Glow Safari.