Ratel Semiconductor, a Korean power management semiconductor company, has raised  $1.4M (KRW 2.1 billion) in seed funding from investors, including the Ulsan Creative Economy Innovation Center (Ulsan CCEI). The company was also selected for the Ministry of SMEs and Startups’ TIPS program.

CEO Soonkoo Park founded Ratel Semiconductor in November 2023 after serving as a business unit director at Taiwan’s leading power management semiconductor company, Richtek. Drawing on his extensive experience in semiconductor technology and market insights, he established the company to compete in the global PMIC market. Within just a year, Ratel Semiconductor secured $1.4M (KRW 2.1 billion) in seed funding, reflecting strong investor confidence in its potential.

In December 2024, the company received up to KRW 700 million in R&D funding through the TIPS program to advance its energy-efficient and cost-effective technologies. That same month, it was selected for LG Display’s Dream Play 7 startup support program, which provides funding for prototype development and opportunities for future commercialization.

Ratel Semiconductor plans to accelerate product development and market expansion, with four PMIC products scheduled for launch by mid-2025. Among these, the low-power LED driver IC for AI laptops, developed under the TIPS program, is designed to contribute to global energy savings and is expected to mark a significant milestone in the company’s international growth.

In response to regional risks posed by U.S.-China trade tensions, Ratel Semiconductor is diversifying its production network beyond China and Taiwan, earning strong interest from customers and investors. CEO Park stated, “This funding and TIPS selection validate Ratel Semiconductor’s technological and business strengths. With a talented and experienced team, we aim to lead Korea