CNT Tech (CEO Jeon Hwa-seong) announced that it has invested in Piero Company (CEO Park Min-jin) through its 22nd investment fund. Global startup accelerator SparkLabs (CEO Kim Yu-jin) participated as a co-investor. The investment amount was undisclosed.
Piero Company operates an IT asset circulation platform that encompasses the entire lifecycle of IT devices, including smartphones and laptops, from introduction and use to collection and redistribution. It integrates subscription services, collection and redistribution, and global trading and distribution into a single structure. Through data-driven pricing and demand analysis, the company mitigates price differences across countries for IT devices, enabling both businesses and individual customers to access IT devices at reasonable costs.
Approximately 50 million tons of e-waste is generated globally each year, and the price of used IT devices can vary by up to twofold across countries. To address this structural issue, Piero Company is building a global asset redistribution structure to move IT devices to markets that need them. Currently, it is expanding its global used IT device distribution and export network, focusing on Southeast Asia, and operating a circular infrastructure that connects devices disused in developed countries to emerging and developing countries.
CNT Tech and SparkLabs highly evaluated Piero Company's data-driven IT asset management capabilities and the scalability of its global redistribution network, and in particular, determined that its business model, which combines a B2B subscription model with a global redistribution structure, could be competitive in overseas markets.
Park Min-jin, CEO of Piero Company, said, “We started by viewing IT devices as assets rather than simple consumer goods, and connecting the flow with data.” He added, “We will grow into a global circulation platform by connecting IT devices that were previously wasted due to information asymmetry to where they are needed.”
- See more related articles
You must be logged in to post a comment.