MTR Lab and partner invest US$5.9m in Hong Kong construction tech company
Summary
MTR Lab and venture capital firm Gobi Partners GBA have invested HK$46.8 million (US$5.9 million) in Hong Kong-based construction tech company isBIM to drive digital transformation and sustainability in the building industry.The investment will enhance the construction technology companys capability to move the industry towards a more data-driven, digital future, as well as fuel its future advancements and business growth, according to a joint statement on Friday evening.The proceeds will be utilised for research and development of isBIMs Jarvis software as a service (SaaS) project management platform for construction, improve the companys artificial intelligence and data analysis capabilities, expand its sales channels and partner networks, the statement said.Construction waste has been a significant contributor to landfills in Hong Kong, said Danny Chong, executive director of Gobi Partners GBA.By digitalising the construction process, isBIMs technology not only boosts safety and productivity at project sites, but it also reduces the wastage of construction materials, contributing to overall efficiency and sustainability.