Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>OpenLight raised $34 million in Series A funding in August 2025, with the round co-led by Xora Innovation and Capricorn Investment Group.</li><li>OpenLight develops photonic application-specific integrated circuits (PASICs) that transmit data using light rather than electrons, achieving higher speeds with reduced heat generation.</li><li>OpenLight's open foundry model distinguishes it from vertically integrated competitors by licensing its component library and technology to semiconductor foundries rather than maintaining ownership of manufacturing assets.</li></ul>

OpenLight raised $34 million in Series A funding in August 2025, with the round co-led by Xora Innovation and Capricorn Investment Group.OpenLight develops photonic application-specific integrated circuits (PASICs) that transmit data using light rather than electrons, achieving higher speeds with reduced heat generation.OpenLight's open foundry model distinguishes it from vertically integrated competitors by licensing its component library and technology to semiconductor foundries rather than maintaining ownership of manufacturing assets.

<ul><li>Paragraf completed a $55 million Series C funding round in August 2025, led by Mubadala Investment Company.</li><li>Paragraf produces graphene-based electronic devices using a proprietary metal-free chemical vapor deposition process that grows monolayer graphene directly on silicon wafers.</li><li>Paragraf is developing graphene-based memory devices through a £1 million Innovate UK grant, targeting ultra-low-power applications in data centers and edge AI systems.</li></ul>

Paragraf completed a $55 million Series C funding round in August 2025, led by Mubadala Investment Company.Paragraf produces graphene-based electronic devices using a proprietary metal-free chemical vapor deposition process that grows monolayer graphene directly on silicon wafers.Paragraf is developing graphene-based memory devices through a £1 million Innovate UK grant, targeting ultra-low-power applications in data centers and edge AI systems.

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Capital Markets

<ul>
<li><strong>This is our 10th "Annual Edition of the Major Korean IPOs Pipeline Preview" at Smartkarma.</strong></li>
<li>This insight will feature 50 of the biggest potential IPOs in Korea in 2025.</li>
<li>These 50 IPOs in Korea are likely to represent more than 80% of all capital raised through IPOs in Korea next year.</li>
</ul>


This is our 10th "Annual Edition of the Major Korean IPOs Pipeline Preview" at Smartkarma.
This insight will feature 50 of the biggest potential IPOs in Korea in 2025.
These 50 IPOs in Korea are likely to represent more than 80% of all capital raised through IPOs in Korea next year.


2025 ("Year of the Snake") Major IPOs Pipeline in Korea

<ul>
<li>Established in 2020, Rebellions is a leading AI based fabless startup in Korea. In February 2023, Rebellions launched a new artificial intelligence chip, challenging the global leader NVIDIA. </li>
<li>According to the company, its ATOM chip targets specific tasks, allowing the chip to consume only about 20% of the power of an Nvidia A100 chip on those tasks. </li>
<li>Since the company's inception, Rebellions raised 122 billion won in funding including 30 billion won from KT. The company was last valued at 350 billion won in June 2022.</li>
</ul>


Established in 2020, Rebellions is a leading AI based fabless startup in Korea. In February 2023, Rebellions launched a new artificial intelligence chip, challenging the global leader NVIDIA. 
According to the company, its ATOM chip targets specific tasks, allowing the chip to consume only about 20% of the power of an Nvidia A100 chip on those tasks. 
Since the company's inception, Rebellions raised 122 billion won in funding including 30 billion won from KT. The company was last valued at 350 billion won in June 2022.


Rebellions: Challenging Nvidia in the AI-Powered Semiconductor Chips

South Korea

Rebellions Inc. operates as an artificial intelligence semiconductor company. The Company designs, develops, and supplies non memory electronic integrated circuits, artificial intelligence semiconductor chips, and other related products. Rebellions markets its products worldwide.

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Rebellions (1848256D KS)

Primer: OpenLight - 01 Sep 2025

Platform for designing and manufacturing custom photonic integrated circuits for AI data centers and other applications

Sacra

Primer: Paragraf - 01 Sep 2025

Manufacturer of graphene-based electronic devices for sensors and diagnostics applications

Sacra

2025 ("Year of the Snake") Major IPOs Pipeline in Korea

This is our 10th "Annual Edition of the Major Korean IPOs Pipeline Preview" at Smartkarma. This insight will feature 50 of the biggest potential...

Douglas Kim

Rebellions: Challenging Nvidia in the AI-Powered Semiconductor Chips

Established in 2020, Rebellions is a leading AI based fabless startup in Korea. In February 2023, Rebellions launched a new artificial intelligence...

Douglas Kim

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52-week Range

Market Cap (USDm)

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