MioTech, an AI-powered sustainability data and solution developer, has closed its Series B+ round, which will help it increase product development efforts.
The extension capital was supplied by Guotai Junan International and GIC. The size of the investment into MioTech was not disclosed.
With the capital, the FinTech company hopes to accelerate its product development efforts and improve the sustainability data firms have access to. As part of this, the company has developed advanced technical solutions that will help with ESG data reporting, energy efficiency management, carbon data tracking and carbon reduction.
Furthermore, the company recently released its Mio app within Wechat, which it hopes will encourage green-conscious communities and promote low-carbon lifestyles.
MioTech, which has offices in Hong Kong, Shanghai, Beijing and Singapore, leverages AI to help combat climate change, carbon emissions and social responsibility challenges faced by financial institutions, corporations and individuals. Its ESG data empowers financial services to make positive green finance decisions and make responsible investments.
Its software also enables clients to manage ESG reporting, improve energy efficiency, track and reduce carbon emissions, and more.
Guotai Junan International managing director Peter Chiu said, “While ESG concepts have rapidly emerged, MioTech has endeavored to make ESG data and sustainable technologies better defined and more efficient. 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 in such fields.
“MioTech further refines ESG evaluation criteria and provides comprehensive technical solutions for financial institutions and corporates. 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.”
MioTech previously received a minority investment from Moody’s Corporation back in December 2020. Prior to that, the FinTech company secured a Series A+ round from Horizons Ventures.
Other existing backers of MioTech include ZhenFund, TOM Group and HSBC.
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