Medical robot maker LivsMed has spent half of its IPO funds in six months

Medical robot maker LivsMed has used up about half of the money it raised in its December 2025 stock market listing in just six months, Bloter reported, citing data from South Korea's Financial Supervisory Service.

Consolidated cash assets stood at 64.6 billion won at the end of June, down 50.9% from 131.4 billion won at the end of last year. The company raised 135.9 billion won in its Kosdaq listing, all of it in new shares.

Operating activities consumed 30.6 billion won in the first half, and the company spent 33.4 billion won on fixed assets, including 31.2 billion won on land and buildings in Yongin for a new factory it plans to start up in the second half of 2027. In July it borrowed 28.4 billion won from Woori Bank and Hana Bank.

Customer payments are slow: receivables take about 270 days to collect, and receivables older than three months more than doubled to 14.4 billion won. The original owner of the factory site has also filed for an injunction, claiming the sale contract is void.

"Current liquidity is being spent on planned investments, the commercialisation of new products including Stark and the expansion of the production base," a LivsMed official said.