Investment in Platform Program Development Company
Daewoo Engineering & Construction (Daewoo E&C) announced on Feb. 23 that it has acquired a 30 percent stake in ITRO, a platform program development company.
Through this equity investment, Daewoo E&C will enter the smart home platform business in earnest. It is planning to develop a smart home platform by improving the Purgio Smart Home Platform currently in use.
Founded in 2018, ITRO is a startup that specializes in platform software and big data analysis based on artificial intelligence (AI), the internet of things (IoT), and big data.
Daewoo E&C entered the smart home platform business based on the Purgio Smart Home, which was developed in 2019. Since then, the builder has developed a construction safety management platform in collaboration with ITRO. The platform allows supervisors to monitor movements of workers and construction equipment with mobile devices by utilizing closed-circuit (CC) TVs installed at a construction site. By utilizing this platform, it is possible to prevent dangerous situations from occurring in advance.
Daewoo E&C plans to present a blueprint for smart construction through the convergence of construction and technology by expanding its platform development to various construction-related fields in the future.
Meanwhile, ITRO is the third startup chosen by Daewoo E&C for equity investment. Earlier in March and July 2020, the company invested in AstroX, a drone manufacturing and software development company, and Humax EV, a company that manufactures electric vehicle chargers and provides charging services.