GIC invests in Hong Kong-based data start-up MioTech

The funding from GIC and Guotai Junan International will be used to expand and accelerate MioTech's product development.
The funding from GIC and Guotai Junan International will be used to expand and accelerate MioTech's product development.PHOTO: GIC

SINGAPORE (THE BUSINESS TIMES) - Sustainability data and solutions provider MioTech has bagged investments from Singapore sovereign wealth fund GIC and Guotai Junan International in a Series B+ funding round.

The amount of investment was not disclosed.

The funding will be used to expand and accelerate MioTech's product development. The Hong Kong-based company, which uses artificial intelligence, provides environmental, social and corporate governance (ESG) data to financial institutions, corporations and individuals.

Financial institutions use MioTech's data when making decisions for green finance and responsible investments. Corporations, meanwhile, use MioTech's software to manage ESG reporting, improve energy efficiency, and track and reduce carbon emissions, the company said.

MioTech has offices in Hong Kong, Shanghai, Beijing and Singapore. Its earlier investors include ZhenFund, Horizons Ventures, TOM Group, Moody's and HSBC.