'Space Components Company' MID Secures KRW 15.7 Billion Series A Investment

"Establishing Advanced Package Line"
"Designated as Space New Technology, Mounted on Nuri Rocket"

Space components specialist MID has secured a KRW 15.7 billion Series A investment. The total cumulative investment now stands at KRW 17.7 billion. This funding is expected to serve as a catalyst for a full-scale enhancement of the company’s capabilities in space-grade semiconductor packaging and ceramic package manufacturing.

On July 29, a MID representative stated, “This investment round included participation from existing investors such as DSC Investment and Schmidt, as well as new investors including Korea Development Bank, Medici Investment, IBK Capital, Korea Credit Guarantee Fund, POSCO Technology Investment, and Pioneer Investment.”

MID plans to establish an advanced space and aerospace packaging manufacturing line, covering an area of 6,600 square meters, at the Pyeongchon Industrial Complex in Daejeon by November. The company will also pursue advancements in mass production process technology for HTCC ceramic packages and construct the necessary facilities.

Leveraging its customer network and product assurance expertise accumulated through its Component Procurement & Provision Activity (CPPA) platform, MID aims to integrate these strengths into the ceramic package manufacturing business to establish a unified supply system that spans from component testing and procurement to manufacturing and verification.

Furthermore, MID intends to gradually expand its business domain into both the commercial and defense sectors and to establish a production base for ceramic components used in semiconductor test equipment in the commercial sector by 2029.

Founded in 2018, MID has been engaged in the development and manufacturing of space-grade electronic components, acquiring up-screening test technologies for space-grade parts, and operating a consulting business for space product assurance. The company’s revenue increased from approximately KRW 1.9 billion in 2021 to about KRW 12.4 billion last year.

On the technical front, MID successfully localized the development of a hermetically sealed ceramic package type space-grade high-reliability memory (16Mbit SRAM), which was installed on the first technology validation satellite for domestic components and devices launched by the Ministry of Science and ICT through the fourth launch of the Nuri rocket, and was designated as a ‘Space New Technology’ by the Korea Aerospace Administration (KASA). Currently, the company is developing a non-hermetic, space-grade epoxy molding type high-capacity NAND flash memory with a capacity of 128Gbit or more, and plans to apply it to the ultra-small satellite ‘DaejeonSat’, which will be launched during the fifth Nuri rocket mission in the second half of this year.

Jung Sungkeun, CEO of MID, commented, “This investment marks an important turning point toward becoming a technology company equipped with capabilities in space-grade semiconductor packaging and ceramic package manufacturing. We will dedicate our full efforts to localizing a reliable component supply chain needed by the domestic space and aerospace industry.”

He added, “Currently, the most urgent issue facing the space industry is reducing satellite manufacturing costs by solving the high cost of components. We plan to supply low-cost space components that can replace the high-cost components of ‘Old Space’.”

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