Investment bank China Bridge Capital has invested RMB300m ($45m) in iCarbonX, a China-based health data analysis technology provider backed by internet company Tencent, China Money Network reported today.
Launched in October 2015, iCarbonX is developing a platform that applies big data analysis and artificial intelligence to a person’s biological, behavioural and psychological data in order to help them live healthier lives.
The company’s first commercial offering is expected to be a personalised skincare or cosmetics product, though no firm details have been released.
Tencent led the company’s $154m series A round in April this year, which also included a $15m investment by genomic engineering company Vcanbio Cell & Gene Engineering Corporation. The round valued iCarbonX at a reported $1bn.
Zeng Qiang, founder of China Bridge Capital, said: “We favour the healthcare sector and the leading biotech and artificial intelligence team led by (iCarbonX co-founder and CEO) Wang Jun.
“We are also optimistic about iCarbonX’s synergy with Tencent on users, big data and cloud computing.”