Sparklabs, an accelerator, said on Jan. 27 it has invested in Pierrot Company, which operates IT device subscription and redistribution services. CNT Tech also participated in the investment.

Pierrot Company operates the Phongo subscription service and the Ligo collection and redistribution service, based on a cumulative base of more than 10,000 IT devices.

Pierrot Company also built global distribution channels through Ligo Trade, which converts verified products among collected IT devices into tradable assets and reallocates them to places of demand such as emerging and developing countries.

Following the investment, Pierrot Company plans to upgrade its trade infrastructure and provide it in a platform format. It also plans to bring in new domestic corporate clients seeking to dispose of idle IT assets. The company also plans to step up its entry into global markets in cooperation with Sparklabs.

Sparklabs CEO Eugene Kim (김유진) said it decided to invest because Pierrot Company adds value by finding appropriate uses for IT devices at each stage of their lifecycle, and judged it would be competitive in the global redistribution market as the circular economy has become important enough to emerge as a national task.

Pierrot Company CEO Min-jin Park (박민진) said its goal is to build a new structure in which IT device assets circulate in a virtuous cycle worldwide. He said the company will expand Ligo Trade step by step, make it a new growth engine and generate global results.