MTR Lab and Gobi Partners GBA are co-investing HK$46.8 million or about US$6 million in isBIM, to enhance the construction technology company’s capability to propel the industry toward a more data-driven, digitally empowered future.
As a Building Information Modelling (BIM) consultant and solutions provider in the Asia-Pacific region, isBIM’s solutions are driving digital transformation and sustainability in the construction industry.
By harnessing the power of its artificial intelligence-enabled SaaS platform, data-driven solutions and digital twin applications, isBIM empowers construction projects to boost operational efficiency, optimise energy efficiency, enhance safety, and improve environmental, social and governance (ESG) reporting.
The proceeds from the co-investment from MTR Lab and Gobi Partners will be used for research and development of its JARVIS SaaS platform, enhancement of the company’s artificial intelligence and data analysis capabilities, expansion of sales channels and partner networks, and other purposes.
Michael Chan, managing director of MTR Lab, said there is an imminent need for the construction industry to embrace digital transformation and be better prepared to meet the needs of the future.
“Advanced BIM technologies and data-driven solutions like isBIM’s can help the construction sector improve operational efficiencies and enhance sustainable practices,” he said.
“We expect that this co-investment with Gobi Partners GBA will support our collective effort to address the urgent need for digital transformation and environmental stewardship in the construction and property sectors and contribute to smart city solutions,” he added.
Danny Chong, executive director of Gobi Partners GBA, said construction waste has been a significant contributor to landfills in Hong Kong.
“By digitalising the construction process, isBIM’s 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,” said Chong.