# GSIL Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/gsil-co

- Industry: Software
- Headquarters: Seongnam, South Korea
- Website: www.gsil.kr
- Total disclosed funding: $1.6M
- Latest round: Series A (Dec 1, 2022)
- Investors on record: 2

## About

Founded in 2013 and headquartered in Seongnam, South Korea, GSIL Co., Ltd. focuses on smart safety solutions for the construction and manufacturing sectors. In April 2024, GSIL Co., Ltd. raised KRW 2 billion in venture funding from investors Hana Securities, NH Investment & Securities, and Korea Investment & Securities, valuing the company at KRW 55.41 billion post-money. GSIL has completed eight deals to date and is led by its CEO.

GSIL specializes in smart safety solutions that enhance safety management and productivity through innovative technology. Their core products include the BE-iT construction safety solution, SAFETY100 for safety level improvement, and the S100 UAE smart safety management solution, which integrates worker management, risk assessment, and monitoring features into a subscription-based platform. Additionally, GSIL has developed the '4S' smart safety solution for large-scale projects, such as the Fadhili Package 2 with Saudi Aramco, which focuses on real-time hazard detection and response. These solutions address critical safety challenges in various industries, including construction and manufacturing, serving clients across South Korea, Saudi Arabia, and the United Arab Emirates.

In the most recent year, 2024, GSIL reported a revenue of KRW 1,646,318.5 and an EBITDA of KRW -2,124,763.7. The company's revenue is derived primarily from the sale of smart safety management systems and subscription-based platforms, along with collaborative partnerships in the construction and industrial sectors. Clients often engage in direct B2B transactions for tailored safety solutions, resulting in long-term contracts that include installation, maintenance, and updates of their safety management systems. Collaboration with major entities such as Samsung Engineering supports their market presence and revenue capabilities.

GSIL Co., Ltd. plans to introduce new products aimed at enhancing its smart safety solutions, with specific launch dates yet to be announced. The company is targeting expansion into additional markets, particularly focusing on increasing its presence in Southeast Asia and the Middle East by 2025. The April 2024 funding will support these initiatives, enabling GSIL to enhance product development and market outreach.

## Funding rounds

- Series A, Dec 1, 2022, $1.2M — Industrial Bank of Korea, BigBang Angels
- Seed, Jun 1, 2016, $0.4M — BigBang Angels

## Investors

- BigBang Angels (https://capitalatlas.ai/funds/bigbang-angels) — Seed, Series A
- Industrial Bank of Korea — Series A