Pablo Aviation is preparing for an initial public offering (IPO). On the 9th, Pablo Aviation held a competitive presentation inviting four domestic securities companies to prepare for a technical exception listing on KOSDAQ in the second half of 2024. They have selected Daishin Securities as the leading underwriter and are officially launching the IPO process.
Founded in 2018, Pablo Aviation is a startup at the forefront of drone delivery and urban air mobility (UAM) commercialization, possessing next-generation smart mobility integrated control technology and drone swarm technology. The smart mobility integrated control system is a core technology of Pablo Aviation and serves as essential infrastructure for future smart cities. It features technology that integrates the control of drones and UAM as aerial transportation methods along with land and maritime logistics, and it achieved runner-up awards at the International Unmanned Vehicle Exhibition in both 2021 and 2022.
Pablo Aviation saw significant growth compared to 2021, with revenues and employee numbers increasing by 370% and 230%, respectively, in 2022. They showcased the potential for commercializing item delivery using drones and made domestic drone delivery services a reality. In July of last year, they opened Korea’s first drone delivery center and continue to provide delivery services for convenience store items.
Successfully completing the nation’s first urban invisible-zone drone delivery demonstration project organized by the Ministry of Land, Infrastructure and Transport, they achieved a total of 207 flights and a cumulative distance of 1,909 km. This provided valuable data for establishing a drone delivery service management system and urban drone delivery safety standards.
Building on their know-how in developing smart mobility integrated control systems, Pablo Aviation is participating in the K-UAM (Korean Urban Air Mobility) Grand Challenge, working toward establishing a UAM ecosystem. They are currently developing a UAM traffic management platform in collaboration with LG Uplus and plan to develop a UAM vertiport operating system with GS Construction.
In June 2021, Pablo Aviation established a subsidiary in the United States and last year became the first drone startup to successfully carry out a logistics delivery demonstration project through an agreement with the New York Economic Development Corporation. They are currently working on a UAM flight safety project under NASA’s guidance. With their drone swarm technology, they set a Guinness World Record with 511 flaming drones in September last year.
Kim Young-jun, CEO of Pablo Aviation, stated, “Through our IPO, we aim to secure funds for technological development to build the foundation for the future mobility ecosystem and grow into an innovative company that will lead the drone delivery and UAM markets.”
Lee Sang-jin daedusj@autodiary.kr