Laying the Foundation for the Next Wave of Innovation

People & Technology, a leading IoT-based AI platform solutions provider in Korea, announced on the 23rd that it has successfully secured a total investment of 3 billion KRW from Aju IB Investment, Magellan Technology Investment, and Kingo Investment Partners.

This marks the first major funding round since the company's Series A investment in 2017, approximately four years ago.

Founded in 2013, People & Technology has consistently overcome the technical and economic limitations of IoT solutions, offering innovative IoT data-driven AI applications and services across diverse industries, including healthcare (hospitals) and industrial safety. The company initially introduced location-based services to the domestic IoT market and has since evolved to provide advanced solutions. Since 2018, it has delivered its specialized IoMT (Internet of Medical Things) platform, IndoorPlus+ SmartCare, offering various healthcare services such as 24/7 automatic patient vital signs monitoring, asset management, nurse workflow automation, and smart patient safety management.

In 2020, the company participated in the Ministry of Health and Welfare's Smart Hospital Leading Model initiative, deploying its IoMT smart hospital platform and automated in-hospital patient monitoring solutions integrated with various medical devices across six major hospitals. Currently, the company is co-developing and clinically validating IoT medical big data analytics technologies and solutions with multiple hospitals.

Building on its expertise in medical IoT/IoMT, People & Technology is expanding its validated medical device integration and vital signs monitoring service models into other industries, such as power plants, factories, and construction. These applications focus on ensuring human safety by detecting environmental risks and implementing proactive safety measures.

Notably, the company’s expansion of its IoT location-based solutions to collect workers' biometric signals in real time for safety management has been recognized as a groundbreaking achievement in the worker safety management service market. This innovation is expected to broaden the application scope of IoT-based safety services, driving both quantitative and qualitative growth in the industry.

The company's ability to dominate the smart hospital sector, while addressing diverse industry demands with tailored solutions, was a key factor in securing this investment.

Co-CEO Hong Sung-pyo remarked, “Our collaborations with various customers and partners, as well as the outcomes of our internal R&D efforts, have created an opportunity for greater growth and innovation with this investment. Moving forward, we plan to accelerate business expansion with aggressive strategies targeting new industries and international markets, ensuring a win-win for all our global customers and partner companies through continuous innovation and value creation.”