Inka Networks to Reattempt 2024 IPO with Improved Business Feasibility and Profitability

[Asia Economy Reporter Jang Hyowon] Digital security solution specialist Inka Entworks announced on the 11th that it plans to improve business performance and profitability through entry into the North American and European markets and to re-pursue its initial public offering (IPO) in 2024.

Inka Entworks passed the technology evaluation last year and has been pursuing a technology-specialized listing, but recently decided to withdraw its preliminary review for listing on KOSDAQ.

A company official stated, “We will focus on diversifying overseas markets to enhance market competitiveness such as business feasibility and profitability so that we can receive an appropriate corporate valuation when pursuing an IPO in the future,” adding, “We plan to strengthen our fundamentals and monitor market conditions to review the optimal timing for a successful KOSDAQ listing.”

Inka Entworks, established in 2000, is a company specializing in the development and supply of cloud-based digital security software. Its main products include the mobile application security solution ‘AppSealing’ and the multimedia digital content management and security (DRM) solution ‘PallyCon,’ both of which are built as cloud-based Software as a Service (SaaS) products.

Inka Entworks’ major clients include domestic and international large corporations, mobile game developers and suppliers, global OTT companies, entertainment firms, online education service providers, and financial institutions. In particular, since 2019, it has strengthened its global business centered on local subsidiaries (branches) in Mumbai, India, and Indonesia, raising the proportion of overseas customers to 50% of the total, mainly in the APAC region.

Recently, through a secured base office in Los Angeles, USA, Inka Entworks plans to accelerate company growth this year by actively targeting the North American and European markets based on the overseas expansion strategy proven in the APAC market, and to re-pursue its IPO next year. The company aims to further expand its global market by additionally securing bases in various continents such as France, Switzerland, Japan, and China beyond the United States.

This content was produced with the assistance of AI translation services.