HSBC Joins MioTech’s Series B Financing Round
MioTech, the AI-based sustainability data and technology provider, announced that HSBC has invested in the company in an additional financing round to its Series B, further expanding the company’s stellar investor base which already includes ZhenFund, Horizons Ventures, Moody’s and TOM Group.
In 2020, MioTech successfully expanded its environmental, social and governance (ESG) data coverage to more than a million public and private companies in the Greater China region. It has implemented supply chain, portfolio, and energy monitoring systems across many different sectors. MioTech plans to launch more datasets covering Asian and European markets. It will also develop more software to address the climate and sustainability challenges faced by financial institutions, corporations and governments.
“HSBC brings us a wealth of knowledge on ESG and green finance,” said Jason Tu, Co-founder and CEO of MioTech. “With the new round of financing, MioTech looks to invest more into developing sustainability data and technology, and will further expand its product offerings and geographic coverage.”
The investment was made by HSBC’s Strategic Innovation Investments team, a corporate venture capital unit which takes minority holdings in early stage technology companies, following MioTech’s work with HSBC Global Asset Management.
Catherine Zhou, Global Head of Venture, Digital Innovation and Partnerships at HSBC, commented “We are excited to have made an investment in MioTech, and look forward to building on our relationship with the company as they continue to scale. MioTech have already established impressive ESG capabilities across Greater China with the ability to expand into further geographies in the future and capitalise on the wealth of opportunities within this growing market.”
Xavier Desmadryl, Global Head of ESG Research at HSBC Global Asset Management, said “This investment underlines our commitment to ESG and Asia and we look forward to working alongside MioTech to build on our capabilities in this space and extend these offerings to our client base”.