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  • Greater China

MTR Lab, Gobi back Hong Kong construction tech start-up

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  • Justin Niessner
  • 09 October 2023
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MTR Lab, a technology and innovation arm of Hong Kong transport operator MTR, has teamed up with Gobi Partners to invest HKD 46.8m (USD 5.9m) in local sustainable construction start-up isBIM.

The plan is to reduce waste in the construction industry through process digitalisation; almost one quarter of the solid waste in Hong Kong landfills is said to be brought in from construction sites.

IsBIM offers a data sharing, works supervision, and safety monitoring platform, as well as services project design and planning, property management, and relevant technology training. The company claims its technology is used by more than 500 construction organisations globally and contributed to more than 2,000 projects since 2010.

Gobi is investing via its Hong Kong-based GBA (Great Bay Area) unit, which manages the HKD 1bn Alibaba Hong Kong Entrepreneurs Fund and the HKD 2bn Alibaba Entrepreneurs Fund II.

MTR Lab was established in 2019 to collaborate with organisations in mobility, retail, property, smart city, sustainability, and financial services-related segments. It has seen increased momentum since partners with local accelerator Cyberport in June last year, when MTR committed to invest HKD 300m in local start-ups through 2025.

MTR Lab is emblematic of the increasing urgency to develop Hong Kong’s start-up ecosystem via various public-private co-operations. It teamed up with a regional VC firm as recently as June, when it co-invested alongside Australia’s Taronga Ventures in a USD 8m round for Hong Kong’s Ampd Energy, a heavy-duty battery developer focused on the construction industry.

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