Practical artificial intelligence (AI) company Muhayu, which understands natural language, announced on the 2nd that it has selected Mirae Asset Securities as the lead underwriter, aiming for an initial public offering (IPO) in the first half of 2026.
Muhayu is a company that develops and operates solutions that can assist in actual work, not AI for academic achievements. It develops work automation solutions using AI technology and provides them in the form of Software as a Service (SaaS). Its flagship service is the plagiarism detection service for academic papers, 'Copykiller.'
In November last year, Muhayu raised 15 billion KRW in investment during the pre-IPO stage. The investment will be used to establish a foothold for entering the Chinese market and to accelerate its global market expansion. Earlier, in 2020, it launched 'Copymonitor,' a plagiarism detection service dedicated to the Japanese language. Currently, more than 220,000 members from 80 client companies in Japan use the service.
The company aims to concentrate its research and development (R&D) capabilities to develop an 'evaluation automation service.' As generative AI-based writing becomes widespread, it plans to develop services that include 'evaluation of expression specificity,' 'linguistic expression evaluation,' and 'validity checks' to alleviate difficulties faced by professors and HR personnel who read and assess texts.
Shin Dong-ho, CEO of Muhayu, said, "From the time when B2B SaaS model businesses were challenging, Muhayu has built its business model as a B2B SaaS in the fields of AI plagiarism detection and recruitment automation, growing steadily over a long period. We will continue to do our best to solve problems arising from the widespread use of generative AI through technology and services."
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