MID raises $10.8M Series A to build local space-parts supply chain
What's the deal? MID, a South Korean maker of space-grade electronic components, has raised a 15.7 billion KRW (roughly $10.8 million) Series A. Existing backers DSC InvestmentDealroom has a profile for this one. Try Dealroom → and SchmidtDealroom has a profile for this one. Try Dealroom → were joined by new investors including Korea Development BankDealroom has a profile for this one. Try Dealroom →, Medici InvestmentDealroom has a profile for this one. Try Dealroom →, IBK CapitalDealroom has a profile for this one. Try Dealroom →, Korea Credit Guarantee FundDealroom has a profile for this one. Try Dealroom →, POSCO Technology InvestmentDealroom has a profile for this one. Try Dealroom →, and Pioneer InvestmentDealroom has a profile for this one. Try Dealroom →. The round brings MID's total raised to 17.7 billion KRW.
What's the endgame? Founded in 2018, MID bills itself as South Korea's first space-grade electronic components company. It runs a parts procurement and testing platform, the Coordinated Parts Procurement Agent (CPPA), and offers space product assurance consulting.
What's the money for? MID plans to expand its space semiconductor packaging and ceramic package manufacturing. By November, it aims to build a 2,000-pyeong aerospace package production line in Daejeon, then link its CPPA network to manufacturing for an integrated test-to-verification supply chain. It plans to extend into civilian and defence markets, targeting ceramic parts for semiconductor test equipment by 2029.
By the numbers: MID's revenue grew more than sixfold, from about 1.9 billion KRW in 2021 to roughly 12.4 billion KRW in 2025. The company has localised space-grade high-reliability memory and secured a "space technology" designation from the Korea AeroSpace Administration.
Why now? The New Space era is driving sharp demand for satellite components, and localising high-reliability parts while cutting costs has become a core challenge. "The most urgent factor in today's space market is solving the high cost of parts to lower satellite manufacturing costs," said chief executive officer Jung Sung-geun.
The signal: At about $10.8 million, MID's round sits above the 90th percentile of all-time Series A deals in South Korea, a sign investors are backing domestic space supply chains as satellite manufacturing scales.
Read more: WowTale
Image credit: NASA Goddard Photo and Video
