Hong Kong-based AI-driven sustainability data and solutions provider MioTech has raised a Series B+ funding round from Singapore sovereign fund GIC and listed securities company Guotai Junan International.
The financial terms of the deal remain undisclosed.
MioTech provides environmental, social and governance (ESG) data for financial institutions, as well as technical solutions to help corporations with ESG data reporting, energy efficiency management, carbon data tracking, and carbon reduction.
The company has also recently launched its app, Mio, within WeChat to build green-conscious communities and promote low-carbon lifestyles among individuals.
MioTech will use the latest funding to scale its technologies across more industries, the firm’s co-founder and CEO Jason Tu said in a statement.
Meanwhile, Guotai Junan International will support MioTech’s operations in the capital markets.
“Equipped with industry-leading artificial intelligence technologies such as natural language processing (NLP), MioTech has greatly reduced the difficulty of collecting and processing underlying data,” said Peter Chiu, managing director of Guotai Junan International Private Equity Fund.
Founded in 2016, Miotech had previously raised funding from ZhenFund, Horizons Ventures, TOM Group, Moody’s, and HSBC.
Prior to MioTech, Singapore’s GIC has backed a number of Chinese tech firms such as Aixuexi Education Group, SaaS developer Huice and used car dealer Uxin.
The sovereign fund’s co-investor, Guotai Junan International, set up its private equity fund last year to make investments in sectors including artificial intelligence, big data, autonomous driving, and biomedicine, among others.