Daewoo Construction Invests 30% Stake in Drone Manufacturer AstroX

[Asia Economy Reporter Inho Yoo] Daewoo E&C has decided to invest in AstroX, a company specializing in drone manufacturing and software development. The investment amounts to 30% of AstroX's total shares.

This investment originated from Daewoo E&C's new business creation strategy, the ‘B.T.S (Build Together Startups)’ program. In August last year, Daewoo E&C established a new business division to secure new growth engines for pioneering future markets, introducing the ‘B.T.S’ program to realize three core tasks?future core construction technologies, solving social issues, and responding to future society?along with the core value of coexistence.

AstroX is the first recipient of the B.T.S program.

AstroX is a globally renowned sports (racing) drone manufacturer. It is a startup with dealers in 13 countries worldwide, securing overseas sales channels.

Recently, AstroX succeeded in domestic production of industrial drones with VTOL (Vertical Take-Off and Landing unmanned aerial vehicles) capable of mid-to-long-range flights exceeding 1 hour and 30 minutes. Through active collaboration with domestic and international technology partners, AstroX aims to advance the commercialization timeline within this year for small indoor inspection and surveillance reconnaissance drones equipped with autonomous flight functions.

They are currently conducting research and development to launch prototypes of the 2022 hoverbike (flying motorcycle) and PAV (Personal Air Vehicle). Through this investment, a new AstroX Lab will be established in Songdo, Incheon Metropolitan City, and research and development personnel will be expanded.

In the future, Daewoo E&C and AstroX plan to develop industrial and military drones based on their respective technologies and release a package product integrating Daewoo E&C’s control system (DW-CDS), which is currently being piloted on-site. It is expected to lead the integrated management platform market by utilizing the already established sales network and connections.

A Daewoo E&C official stated, “We will focus on supporting the innovative growth of startups and develop new business models through connections across various industrial sectors. According to our new vision and mid-to-long-term strategy, we will overcome the uncertain domestic and international construction market environment and continuously secure new growth engines to enhance corporate value.”

This content was produced with the assistance of AI translation services.