Two Islamic Private Equity Firms invest into MDT Innovations Sdn Bhd

SBI Islamic Fund II (Brunei) Limited (“SBIF II”) and COPE Private Equity (“COPE”) jointly announce the commitment of separate investments amounting up to USD14.25 million into MDT Innovations Sdn Bhd (“MDT Innovations”). The new capital injection will fuel and strengthen MDT Innovations’ research and development (“R&D”), enhance its product quality, expand its business scale, and maintain its competitive edge in order to become a market leader in the Internet of Things (“IoT”) industry and raise its profile as an internationally established player.

MDT Innovations focuses on IoT value chains ranging from intelligent wireless communications, IoT as a service, to neural network solutions, the company offers services in the key domains such as crowd movement, things management and fintech enablement.

Since its founding in 2004, the company has won numerous awards, including the Red Herring Global 100 in 2008, Deloitte Technology Fast 500 APAC in 2011, with founder Liew Choon Lian winning EY Technology Entrepreneur of the Year 2015. Also, the APAC CIO Magazine rated MDT Innovations as one of the top 25 IoT solution providers in 2018.