Singapore’s GIC co-leads AI firm MioTech’s series B+ round

MioTech, an AI-based sustainability data and solutions provider, has raised an undisclosed amount for its series B+ funding round, which was led by Guotai Junan International Private Equity Fund and GIC.

Jason Tu, co-founder and CEO of MioTech / Photo credit: MioTech

With offices in Hong Kong, Shanghai, Beijing, and Singapore, MioTech mainly offers environmental, social, and corporate governance (ESG) data analysis, letting customers manage energy efficiency, track carbon data, and reduce their carbon footprint.

The startup also recently launched a WeChat app to promote green-conscious community-building and a low-carbon lifestyle. It plans to use proceeds from the latest funding to develop products for sustainable technology.

“With more and more world-renowned investors backing us, we look forward to scaling our technologies to serve more industries together with our investors and partners,” said Jason Tu, co-founder and CEO of MioTech.

The firm’s ESG data reporting is “better defined and more efficient,” said Peter Chiu, managing director of Guotai Junan International Private Equity Fund. One of MioTech’s most recent reports said that Taiwanese companies are better than Hong Kong and China-based peers in disclosing ESG metrics and initiatives.

“We trust MioTech will play an indispensable role in the sustainable development and carbon reduction movement in China and worldwide, as well as promote corporate governance and the implementation of ESG concepts,” Chiu added.