Less than six months after it was founded, Shenzhen-based health data platform iCarbonX has completed a Series A financing round of nearly RMB 1 billion (more than USD 100 million), which has pushed its market valuation to RMB 65 billion, Chinese news portal NetEase reported on Tuesday.
The main investors in the latest round include Tencent and VCANBIO Cell & Gene Engineering Corp., Ltd. Besides providing financial support, the investors will also sign strategic partnerships with iCarbonX.
iCarbonX was founded in October by the former CEO of the Beijing Genomics Institute (BGI), Wang Jun, who is now iCarbonX’s CEO. He hopes to establish an AI-based health data platform to offer health management services across the world.
iCarbonX provides customized health analyses and predictions for users using advanced data mining and machine analysis technologies.
“This round of fundraising will be used to produce and collect health data, further develop its data analysis capacity and build artificial intelligence models,” Wang told NetEase in a recent interview.
He also revealed that iCarbonX’s products are now being tested in Chinese cities, and more information about the products will be disclosed if the testing is successful.
iCarbonX is proud of the big names on its team roster, including Wu Chun, the former COO of BGI, Li Yingrui, the former chief scientist of BGI, and Pan Qiao, a professor of Clinical Immunology at the Karolinska Institute.
iCarbonX has set up its first international branch in Malta, where it will deploy its global health services in a country that was named by the World Health Organization as having one of the most advanced health systems in the world.
(Top photo from sohu.com)