MioTech, Hong Kong sustainability start-up backed by GIC and HSBC, taps Pinduoduo executive to lead Singapore expansion

Sustainability data provider MioTech has hired Xu Tian, the former finance head at Pinduoduo, as chief operating officer

MioTech, backed by GIC and HSBC, has raised over US$100 million in private funding

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Hong Kong-based sustainability start-up MioTech is eyeing demand from companies in Singapore for its data solutions. Photo: AP Photo

Published: 1:58pm, 23 Mar 2022

Hong Kong-based MioTech, a sustainability data and solutions provider backed by investors including GIC and HSBC, is expanding into Singapore to tap demand from companies looking to reduce carbon emissions and boost competitiveness.

Xu Tian, who joined the start-up as chief operating officer in February, will spearhead the move. Xu will help expand its reach in the corporate sector, using his experience in mobile internet from stints at e-commerce firm Pinduoduo and artificial intelligence and search-engine giant Baidu.

With more investments directed at the consumer internet, MioTech sees the potential of carbon emissions reduction to grow beyond a compliance-ticking exercise at financial institutions.

“We are adding consumer applications in addition to enterprise [solutions],” said Shanghai-based Xu. “In the past, companies’ loyalty programmes involved mostly discounts or rebates, [but] in an emissions-conscious world today, corporates need a ‘carbon loyalty’ programme to engage customers.”

Xu Tian, chief operating officer of MioTech. Photo: Handout

In China, for example, MioTech has launched a mini-app within WeChat that enables users to calculate their daily carbon footprint, allowing environmentally conscious consumers to use points saved from cutting emissions to redeem green products.

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